Question

If you place $1,000.00 in a savings account with an interest rate of 3.25%/ month, how much should you earn in interest at the end of the month?

(1 point)
Responses

$3.25
$3.25

$32.50
$32.50

$325.00
$325.00

$0.33
$0.33

Answer 1

Interest = principal × rate = $1,000 × 0.0325 = $32.50.

Answer: $32.50