Answer:
$1231
Step-by-step explanation:
Given,
Principal amount = $1200
Rate of interest = 3.9%
Time = 8 months or (8/12) 0.666667 years
Formula of simple interest = [tex]A=P(1+rt)[/tex]
[tex]A=1200(1+\frac{3.9\times 0.666667}{100})[/tex]
A = 1200(1+(0.039 × 0.666667))
A = 1200 (1+0.026)
A = 1200 (1.026)
A = $1231
