That's not the proper way to multiply. If you mean to use compounding interest, the proper rate is 1.017 * 1.017 = 1.034289 = 3.428% annualized. I rounded it t

That's not the proper way to multiply. If you mean to use compounding interest, the proper rate is 1.017 * 1.017 = 1.034289 = 3.428% annualized. I rounded it to 3.4% for simplicity.