Question: Please help explain the correct interest formula to use and how to work this out with steps. Please and thank you. 16. Chelcie's local bank

Please help explain the correct interest formula to use and how to work this out with steps. Please and thank you.

16. Chelcie's local bank offers a four-year certificate of deposit (CD) that pays 3% simple interest per year. If she invests $1,700 in this CD, how much will it be worth in 4 years

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