9,600 is invested at 8% per annum simple interest for 5 years. What is the simple interest payable?

9,600 is invested at 8% per annum simple interest for 5 years. What is the simple interest payable? 

 

9,600 x 8/100 =$768.00 simple interest for 1 year.

$768.00 x 5 =$3,840.00 simple interest for 5 years.