Answer:
$960
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.
[tex]I=Prt[/tex]
I = interest amount
P = principal amount
r = interest rate (decimal form)
t = time
The first step is to change 3% into a decimal:
3% -> [tex]\frac{3}{100}[/tex] -> 0.03
Now, lets plug in the values into the equation:
[tex]I=8,000(0.03)(4)[/tex]
[tex]I=960[/tex]
Jameson will be charged $960 of interest after 4 years.
