Find the amount of simple interest earned in one year on an account that has an interest rate of 3.2% and a principal of $250

simple-interest

#1

Find the amount of simple interest earned in one year on an account that has an interest rate of 3.2% and a principal of $250.

Answer:

Principal= $250
Rate =3.2%
time = 1 yr
Simple interest =(PRT)/100
S.I=(2503.21)/100
=8
S.I. =$8