Explanation
Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
In this example P = $2800, i = 1.2% and t = 5 years, so
III=P⋅i⋅t=2800⋅0.012⋅5=168
Step-by-step explanation:
