Compute the simple interest. If the time is given in months

Last updated: 7/23/2022

Compute the simple interest. If the time is given in months, let one month be 1/12 of a year. Round the answer to the nearest cent. Principal, Rate, and Time Interest $1,500 at 8% for 2 years Interest: $120.00 Interest: $220.00 Interest: $140.00 Interest: $240.00