TIME REMAINING 02:55:22
The following information is known about a loan.

Time = 8 years
Interest rate = 14%
Principal = $1,010

What is the total amount of simple interest that is earned?
$113.20
$1,131.20
$11,311.20
$113,112.00

$1,131.20 is the amount earned

Step-by-step explanation:

Key skills needed: Simple Interest Formula, Operations ( +, - , x , / )

1) To understand this problem, you need to know the simple interest formula.

A = P(1+rt)

A is the amount

P is the principal

R is the interest rate as a decimal

T is the time in years

2) The 1st thing we need to do is convert the interest rate into a decimal. We have 14%. To convert into decimal form, we divide it by a 100, or move the decimal 2 places to the left. This is 0.14 --> So r=0.14

3) Next we use the formula:

A = 1,010(1+ 0.14(8))

This means $1,131.20 is your answer.

Hope you understood and have a nice day!! :D

what? ?

what type of question is thiss

step-by-step explanation:

question 1 is 8, question 2 is 9, question 3 is 24

step-by-step explanation:

now, the numbers they give you at the top are the key. from there, you just have to plug and chug! let's try 1, 2, and 3!

key: a=3, b=5, c=6

1. a+5

remember, a=3, so we plug that in to get 3+5=8

2. 15-c

c=6, so we plug that in to get 15-6=9

3. 4b

b=6, so we plug it in to get 4*6=24

time to try the rest on your own! if you put the answers below in a comment, i'll check them for you!