Answer:
$240
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.
[tex]I = Prt[/tex]
I = interest amount
P = principal amount
r = interest rate (decimal form)
t = time (years)
First, change 6% into a decimal:
6% -> [tex]\frac{6}{100}[/tex] -> 0.06
Now, plug in the values:
[tex]I=800(0.06)(5)[/tex]
[tex]I=240[/tex]
The interest earned is $240.
