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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)

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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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)

User Bernard Paulus
by
8.3k points

2 Answers

3 votes
Multiply 3.38 by 18 to get 60.84

3.38*18=$60.84
User Kyle Venn
by
7.8k points
1 vote
3.38% of 3100= 104.78, so 104.78x18=1886.04 so the answer is $1886.04
hope i helped.
User Bcasp
by
7.9k points
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