Answer:
To find out how much interest Jenny earns in one year, we can use the formula:
interest = principal x rate x time
where:
the principal is the amount of money in the savings account
rate is the interest rate per year, expressed as a decimal
time is the length of time the money is in the account, in years
In this case, Jenny's principal is $1200, the rate is 3% or 0.03 as a decimal, and the time is 1 year. Plugging these values into the formula, we get:
interest = 1200 x 0.03 x 1
interest = $36
Therefore, Jenny earns $36 in interest in one year.