The amount I invested if I receive 500 dollars in interest after 5 years with an interest rate of 8% is $1250.
Simple interest is when only the amount that was invested increases in value with the passage of time.
Amount invested = interest / (simple interest x time )
500 / (0.08 x 5) = $1250
To learn more about simple interest, please check: https://brainly.com/question/27328409
#SPJ2
