How much interest does a $472 investment maked over 30 months at a simple interest rate of 3.9%?

Question

I think it is a Percentage show the work

Answer 1

The underlying formula that you want to use here for simple interest is

Interest = Principal x Rate x Time, which on this one becomes

Interest = 472 x 0.039 x (30/12)

Interest = 46.02

meaning that the simple interest earned on a $472 investment over 30 months at a simple interest rate of 3.9% is $46.02