Question

You've been given a scholarship of $10,000. If you invent it at a 3.4% annual interest rate, how much interest will you have earned a year's time?

Answer 1

You can do this by multiplying 10000 by 103.4 percent
10,000 times 100 percent is 10,000 so 10,000 times 103.4 percent is the extra 3.4 percent
You would have earned 340 dollars in a years time