Answer:
Mary earns interest in one year is $88 .
Step-by-step explanation:
Formula
[tex]Simple\ interest = \frac{Principle\times rate\times time}{100}[/tex]
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
[tex]Simple\ interest = \frac{275\times 3.2\times 1}{100}[/tex]
[tex]Simple\ interest =\frac{880}{100}[/tex]
Simple interest = $88
Therefore the Mary earns interest in one year is $88 .
