Answer:
The simple interest is $ 24.75.
Step-by-step explanation:
Since, the simple interest is,
[tex]I=\frac{P\times r\times t}{100}[/tex]
Where, P is the principal amount,
r is the rate per period
And, t is the number of periods,
Here, P = $ 375, r = 2.2% and t = 3 years,
Thus, the simple interest is,
[tex]I=\frac{375\times 2.2\times 3}{100}[/tex]
[tex]=\frac{2475}{100}[/tex]
[tex]=\$24.75[/tex]
