Question

Titan put $3,400 in a savings account at a local bank. The bank will pay him 1.9% annual simple interest. How much interest will Titan earn after 4 years?​

Answer 1

Answer: $258.40

Explanation:

The formula to calculate the simple interest will be:.

= Principal × Rate × Time

where,

Principal = $3400

Rate = 1.9%

Time = 4

Interest = $3400 × 1.9% × 4

= $3400 × 0.019 × 4

= $258.40