Determine the future value of a simple interest investment with a 4-year term on a principal of 400 at 1.9% Select one: a. 407.60 b. 460.80 C. 404.00 d. 430.40

## Step 1: Convert the interest rate to a decimal### The interest rate is given as . To convert it to a decimal, divide by 100: .## Step 2: Calculate the simple interest earned### Use the simple interest formula, , where is the interest, is the principal, is the interest rate (as a decimal), and is the time in years. In this case, 400 r = 0.019 t = 4 I = 400 \times 0.019 \times 4 = \ ## Step 3: Calculate the future value### The future value is the sum of the principal and the interest earned. Future Value 400 + \ 430.40$.