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You 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…

You 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…
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You 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?

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User Evren Ozturk
by
8.2k points

1 Answer

1 vote
Hi there
The formula is
I=prt
I=275×(3.2/100)×1
I=8.8

Hope it helps
answered
User Cgbystrom
by
8.2k points
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