Matt has 80,000 in a savings account. The interest rate is 12% pre year and is not compounded. How much will he have in 4 months

Matt will earn 3,200 interest in 4 months.

Given:

principal : 80000

interest rate : 12%

term : 4/12 * 4 months in a year

Simple Interest = Principal x Interest rate x term

S. I. = 80000 x 12% x 4/12

= 9600 x 4/12

S. I. = 3,200

OR

12% : 12 month = 1% per month

S. I. = 80000 x 1% per month x 4 months

S. I. = 800 x 4 months

S. I. = 3,200