can calculate the interest on a savings account by using this formula:?

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can calculate the interest on a savings account by using this formula:?

Interest = Principal x Rate x Time
If Mary deposits $275 in principal at an interest rate of 3.2 percent, how much interest will she earn
in one year?

A. $8.80
B. $88
C. $880
D. $18.80

2007-04-21 11:24:37 · 4 answers · asked by Adumu 2 in Science & Mathematics ➔ Mathematics

4 answers

Simply multiply 275 * .032 (convert to decimal first!) * 1

Answer=A $8.80

2007-04-21 11:29:43 · answer #1 · answered by Supermatt100 4 · 0⤊ 0⤋

275 * 0.032 * 1 = A $8.80

2007-04-21 11:29:00 · answer #2 · answered by jules0512 2 · 0⤊ 0⤋

$275 * 3.2% * 1 = $8.80.
Answer A.

2007-04-21 11:29:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋

275*0.032*1 = $8.80

2007-04-21 11:40:29 · answer #4 · answered by steiner1745 7 · 0⤊ 0⤋