Find the simple interest to the nearest cent for each principal interest and time $1,400,3/8%,1 year

The simple interest is $5.25

Simple Interest = Pricipal x rate x time

Principal = 1400

Interest rate = 3/8 %

time = 1 year

For easier computation, convert interest rate from percentage to decimal.

3/8% = 0.375% : 100% = 0.00375

Interest = 1400 x 0.00375 x 1

= 5.25