Sharmane P. answered • 07/04/19

Helping you, helps me too!

Hey S B.!

So since this is a simple interest problem here is the formula we'll be working with:

I=PRT, where I is the interest earned, P is the investment, R is the interest rate and T is time.

We have two steps.

1) Find P given I, R, T.

$140 = (P)(7%)(5) =$400

2) Find I given P, R, T.

I= ($400)(8%)(3) =$96

Hope this helped!

-Sharmane