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You can calculate the intrest on a savings account by using the formula:intrest=principalxratextime if mary deposites $275 in princpal at an intrest rate of 3.2 percent, how muc…

You can calculate the intrest on a savings account by using the formula:intrest=principalxratextime if mary deposites $275 in princpal at an intrest rate of 3.2 percent, how muc…
asked 170k views
3 votes
You can calculate the intrest on a savings account by using the formula:intrest=principalxratextime if mary deposites $275 in princpal at an intrest rate of 3.2 percent, how much intrest will she earn in one year

asked
User Anton Vlasov
by
7.1k points

2 Answers

6 votes
I=prt
I=275×0.032×1
I=8.8
answered
User Sudhin
by
7.7k points
3 votes
Total = principal * (1 + rate)^time
Total = 275 * (1.032)^1
Total = 283.80
Interest = 283.80 -275 = 8.80


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User MunHunger
by
8.3k points
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