Tori deposited $3100 into a savings account that pays a simple annual interest rate of 3.38%. How much interest will she earn after 18 months? (please show work)

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asked May 3, 2019 221k views

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Tori deposited $3100 into a savings account that pays a simple annual interest rate of 3.38%. How much interest will she earn after 18 months? (please show work)

Mathematics
high-school

Bernard Paulus asked

by Bernard Paulus

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2 Answers

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Multiply 3.38 by 18 to get 60.84

3.38*18=$60.84

Kyle Venn answered May 5, 2019

by Kyle Venn

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3.38% of 3100= 104.78, so 104.78x18=1886.04 so the answer is $1886.04
hope i helped.

Bcasp answered May 8, 2019

by Bcasp

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