Find the simple interest to the nearest cent ?

Question

$680 at 8% for 48months

Answer 1

Interest = Principle x Rate x Time

1. Principle = $680
2. Rate = 8% = 0.08 per year (use the decimal form)
3. Time = 48 months = 48/12 = 4 years (use the years)

Interest = Principle x Rate x Time = $680 x 0.08 x 4 = _____?