Answer:
He will have to pay $192 in simple interest.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
E = P*I*t
In which E is the interest, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
In this problem, we have that:
P = 600, r = 0.08, t = 4
So
E = P*I*t = 600*0.08*4 = 192
He will have to pay $192 in simple interest.
