To calculate the simple interest, you can use the formula:

I = P * r * t

where:
I is the interest,
P is the principal amount (initial amount of money),
r is the annual interest rate (in decimal form), and
t is the time the money is invested for (in years).

Given:
P = $9080,
r = 5.00% = 0.05 (you need to divide the percentage by 100 to convert it to a decimal), and
t = 4 months = 4/12 = 0.3333 years (you need to divide the number of months by 12 to convert it to years).

Substitute the given values into the formula:

I = $9080 * 0.05 * 0.3333

Now, calculate the multiplication:

I = $151.33

So, the simple interest earned is approximately $151.33.

Question

To calculate the simple interest, you can use the formula:

I = P * r * t

where:
I is the interest,
P is the principal amount (initial amount of money),
r is the annual interest rate (in decimal form), and
t is the time the money is invested for (in years).

Given:
P = $9080,
r = 5.00% = 0.05 (you need to divide the percentage by 100 to convert it to a decimal), and
t = 4 months = 4/12 = 0.3333 years (you need to divide the number of months by 12 to convert it to years).

Substitute the given values into the formula:

I = $9080 * 0.05 * 0.3333

Now, calculate the multiplication:

I = $151.33

So, the simple interest earned is approximately $151.33.

Knowee AI · Accepted Answer

To calculate the simple interest, you can use the formula:

I = P * r * t

where:
I is the interest,
P is the principal amount (initial amount of money),
r is the annual interest rate (in decimal form), and
t is the time the money is invested for (in years).

Given:
P = $9080,
r = 5.00% = 0.05 (you need to divide the percentage by 100 to convert it to a decimal), and
t = 4 months = 4/12 = 0.3333 years (you need to divide the number of months by 12 to convert it to years).

Substitute the given values into the formula:

I = $9080 * 0.05 * 0.3333

Now, calculate the multiplication:

I = $151.33

So, the simple interest earned is approximately $151.33.

Calculate the simple interest earned. Round to the nearest cent.P = $9080, r = 5.00%, t = 4 months

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