Answer:
The amount of interest earned is US$ 160 and none of the alternatives is correct.
Step-by-step explanation:
Let's use the formula for calculating the interest in a simple interest problem, this way:
Interest earned = (Principal * Interest rate * time in years)
Replacing with the real values, we have:
Interest earned = (100 * 0.08 * 20)
Interest earned = 160
The amount of interest earned is US$ 160 and none of the alternatives is correct.
