# Math Help - Math Word Problem / Simple Interest

1. ## Math Word Problem / Simple Interest

Hello we are having a tuff time assisting with this problem and showing the work how we get the answer. Any help

Savings Account Mallik deposited $1,050 in a savings account, and it earned$241.50 in simple interest after four years. Find the interest rate on Malik's savings account

Also if you know any sites that help with understanding Simple Interest please share

2. Simple Interest = Principle * Rate * Time

$241.50 =$1,050.00 * Rate * 4