To calculate the earning from a simple interest savings plan, you can use the formula for simple interest:
\[ I = P \times r \times t \]
Where:
- \(I\) is the interest earned,
- \(P\) is the principal amount (initial deposit),
- \(r\) is the annual interest rate (in decimal),
- \(t\) is the time in years.
For this scenario:
- \(P = 800\) (the amount deposited),
- \(r = 0.15\) (15% as a decimal),
- \(t = 4\) (the number of years).
Now plug in the values:
\[ I = 800 \times 0.15 \times 4 \]
Calculating that gives:
\[ I = 800 \times 0.15 = 120 \] \[ I = 120 \times 4 = 480 \]
So, the total interest earned after 4 years is $480.
Therefore, the correct response is:
$480