1. Convert 8 semesters to years:
8 \, \text{semesters} = 4 \, \text{years}
2. Use the simple interest formula:
I = P \times r \times t
3. Substitute the given values and solve for \( P \):
2,400,000 = P \times 0.15 \times 4
4. Solve for \( P \):
P = \frac{2,400,000}{0.15 \times 4} = \$40,000,000
Therefore, the capital that should be invested is
\$40,000,000