Answer:
480.
Step-by-step explanation:
We have been given that a principal of 1000 is invested at an 8% annual rate of interest.
To find the amount of interest after 6 years, we will use simple interest formula.
[tex]I=Prt[/tex], where,
I = Amount of interest,
P = Principal amount,
r = Annual interest rate in decimal form,
t = Time in years.
[tex]8\%=\frac{8}{100}=0.08[/tex]
Upon substituting the given values, we will get,
[tex]I=1000*0.08*6[/tex]
[tex]I=1000*0.48[/tex]
[tex]I=480[/tex]
Therefore, the amount of interest would be 480.
