Calculate the simple interest and total amount if the principal is P, rate is 8% per year, and time is 5 years.

The formula for simple interest ($I$) is:

$$I = \frac{Prt}{100}$$

where $P$ is the principal amount, $r$ is the annual interest rate, and $t$ is the time in years.

From the problem statement:

• Time ($t$) = 5 years
• Annual interest rate ($r$) = $8\%$ The principal amount ($P$) is not given, so we will express the interest and total amount in terms of $P$.

Substitute the given values into the simple interest formula:

$$I = \frac{P \times 8 \times 5}{100}$$ $$I = \frac{40P}{100}$$ $$I = 0.4P$$

The simple interest earned is $\boxed{\text{0.4P}}$.

The total amount ($A$) after $t$ years is the principal plus the interest:

$$A = P + I$$ $$A = P + 0.4P$$ $$A = 1.4P$$

The total amount is $\boxed{\text{1.4P}}$.