Answer:
Simple interest earned = $8
Step-by-step explanation:
A = P(1 + rt)
Where 'P' is the principal, 'r' is the rate and 't' is time.
A = $200(1 + 0.04(1)) = $208
Interest earned = Amount after the 1 year minus Principal
i.e Interest = $208 - $200 = $8
