Prealgebra (7th Edition)

I=PRT P= 2000 dollars R = 8% T = 5 years Write 8% as a decimal I=2000$\times$ $\times$ 0.08 $\times$ 5 Multiply I= 800 dollars The simple interest is 800 dollars. total amount = principal + interest total amount= 2000+800= 2800 dollars Total amount after 5 years will be 2800 dollars