Question

If Mary deposits $275 in principal at an interest rate of 3.2 percent, how much interest will she earn in one year

Answer 1

Answer:

Mary earns interest in one year is $88 .

Step-by-step explanation:

Formula

$Simple\ interest = \frac{Principle\times rate\times time}{100}$

As given

If Mary deposits $275 in principal at an interest rate of 3.2 percent .

Principle = $275

Rate = 3.2%

Time = 1 year

Putting all the values in the formula

$Simple\ interest = \frac{275\times 3.2\times 1}{100}$

$Simple\ interest =\frac{880}{100}$

Simple interest = $88

Therefore the Mary earns interest in one year is $88 .

Answer 2

Answer: $8.80

Step-by-step explanation: