i = prt is the formula for simple interest. the principal is $4,840, the interest rate is 6%, and the time is two years. what is the interest charge?
a. $58.08
b. $580.80
c. $620.19
d. $5,808.00

So I = Prt 

I for interest charge 
P for principal ($4,840)  
r for rate (6%)
t for time (2 yrs) 

So you would then plug the information into the equation

I = 4,840*.06*2 
I = 580.80 

So the answer to your question is $580.80 which is option B

Hope this helps! :)