Answer: $116
Step-by-step explanation:
Simple interest is calculated using the formula = PRT
where,
P = principal = $1450
R = rate = 32%
T = time = 3 months = 3/12 = 1/4 = 0.25
Interest = PRT
= 1450 × 32% × 0.25
= 1450 × 0.32 × 0.25
= $116
The simple interest is $116
