Question 219534
{{{I=Prt}}} Start with the simple interest formula.



{{{I=740(0.06)(1)}}} Plug in {{{P=740}}}, {{{r=0.06}}} (note: 0.06 is the decimal equivalent of 6%), {{{t=1}}}.



{{{I=(44.4)(1)}}} Multiply {{{740}}} and {{{0.06}}} to get {{{44.4}}}.



{{{I=44.4}}} Multiply {{{44.4}}} and {{{1}}} to get {{{44.4}}}.



So the simple interest is $44.40