Answer:
96.90
Step-by-step explanation:
850 * .019 * 6 =
This is simple interest ( no compounding interest)
Answer:
$96.90
Step-by-step explanation:
Let's find 1.9% of our amount, which is $850.
1% of 850 = 8.5
we need to get 1.9%, so lets multiply our current 1 percent by 1.9, to get what 1.9% would be.
1% of 850 = 8.5
x1.9 x1.9
1.9% = 8.5 x 1.9
1.9% = $16.15
This means that every year, the savings account gains $16.15 in interest. However, this doesn't account for all 6 years. So we multiply 16.15 by 6, for the 6 years that the money is in the saving account for.
$16.15 x 6 = $96.90 !
So, the total interest is $96.90 :)
