Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years? (I=prt, then add I to p to get the answer)

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	$150
B	$192
C	$1350
D	$1392

Explanation:

Detailed explanation-1: -Interest formula for simple interest: I = Prt where I is the total amount of interest accrued; over t time periods at a simple interest rate, r, and where the original amount invested or borrowed is P.

Detailed explanation-2: -A simple interest calculator is a utility tool that calculates the interest on loans or savings without compounding. You may calculate the simple interest on the principal amount on a daily, monthly, or yearly basis.

Detailed explanation-3: -How much interest is that? The simple interest formula is I=Prt. The P represents the principal.

There is 1 question to complete.