The simple interest formula is i = prt, where i equals interest, p = principal, r = interest rate, and t = time. Your principal is $460, your rate is 2.75%, and your time is 3.25 years. Since 2.75% = 0.0275, the equation becomes i = 460*0.0275*3.25 which equals $41.11 rounded. Hope this helps! :) have a nice day.
