The rate is 1600/8000 = 1/5 = 20%
8000 ÷ 5 = 1600
20% of 8000 = 20% * 8000 = 0.2 * 8000 = 1600
What is the amout of interest that will be earned on an investment of $8000 at 10% simple interest for 3 years
It is: 1/5 of 8000 = 1600
Divide the 8000 by 20, and you'll have your answer !
Simple interest would be 1040
8000 ÷ 5 = 1600
8000*2.5/100 = 200
$2400
$8000/5 = $1600
What is the amout of interest that will be earned on an investment of $8000 at 10% simple interest for 3 years
20% of 8000 = 20% * 8000 = 0.2 * 8000 = 1600
$8000/5 = $1600
It is: 1/5 of 8000 = 1600
It is: 20%
The amount of taxes that you have to pay depends on how it affects your annual income. However, it is common practice to withhold about 20% of cash prizes for income tax purposes. 20% of 8000 is 1600.
Divide the 8000 by 20, and you'll have your answer !