Solve. -The Amount of Simple Interest Earned on an Investment Over

Multiple Choice

Solve.
-The amount of simple interest earned on an investment over a fixed amount of time is jointly proportional to the principle invested and the interest rate. A principle investment of $2400.00 with an interest rate of 1% earned
$120.00 in simple interest. Find the amount of simple interest earned if the principle is $1600.00 and the interest
Rate is 8%.

A) $640.00
B) $64,000.00
C) $960.00
D) $80.00