Find the simple interest and the total amount reccived when $300 are invested for 4 years at interest rate 8% per year? Please give a detailed explanation

How much do you get per year? Thatâ€™s 8% of 300, which is $24. Being simple interest, this does not change.

For 4 years, youâ€™ll get 24 \times 4 = $96. The total amount is hence $396.

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