Question

Simple interest $34,000 invested at 4% for 3 years

Answer 1

final amount would be $38080

Explanation:

1) find 4% of 34000

34000 x .04 = 1360

2) multiply that by your time frame which is 3 years

1360 x 3 = 4080

3) add your interest to your original amount

34000 + 4080 = 38080