Answer:
$ 2320.3
Step-by-step explanation:
Leon has $77,343 in a savings account that earns 9% annually.The interestis not compounded.To the nearest cent,how much interest will he earnin 4 months?
Since the interest is not Compounded
We solve using Simple Interest formula
= P × R × T
P = $77,343
R = 9 %
T = 4 months
Converting to years
= 4/12 = 0.3333333333
Interest = $77,343 × 9% × 0.3333333333
=$2320.29
Approximately to the nearest cents = $2320.3
