Answer:
$48
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 8%/100 = 0.08 per year,
then, solving our equation
I = 200 × 0.08 × 3 = 48
I = $ 48.00
The simple interest accumulated
on a principal of $ 200.00
at a rate of 8% per year
for 3 years is $ 48.00.
