Simple interest

[Blake corey]

How much would Mr. Espina receive after 8 years if he invests P 168, 800 at 18% simple interest?

What i did is using Prt formula
168800(0.18)(8)
= 243072

Not sure if my answer is correct?

 

[Harry_the_cat]

That is the interest he would receive.
If you wanted to calculate the total he would have at the end of 8 years, you would have to add this interest onto the original amount invested.

 

[Blake corey]

That is the interest he would receive.
If you wanted to calculate the total he would have at the end of 8 years, you would have to add this interest onto the original amount invested.

Okay thanks.