khalid invested $9500 in a savings account with a yearly interest rate of 3% for 8 years. how much simple…

Explanation:

Step1: Identify the simple - interest formula

The simple - interest formula is $I = Prt$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years.

Step2: Convert the interest rate to decimal

The annual interest rate $r = 3%=0.03$, the principal amount $P = 9500$, and the time $t = 8$ years.

Step3: Substitute values into the formula

$I=Prt=9500\times0.03\times8$. First, $9500\times0.03 = 285$. Then, $285\times8=2280$.

Answer:

C. $2280