Question

The following information is known about a savings account.

Time = 6 years
Interest rate = 1.9%
Principal = $850

What amount of simple interest will be earned?
A. $16.15
B. $96.90
C. $946.90
D. $9,690.00

Answer 1

C.$946.90

Explanation:

S.I = 850×1.9×6÷100= $946.90

Answer 2

I=prt

I=850×0.019×6

I=96.90

Explanation: