Asked by nnn

Ike invests $7,660 in an account paying 7.27% simple interest annually. How much interest has Ike gained after four years?
a.
$222.75
b.
$2,227.53
c.
$1,392.20
d.
$13,922.05

All Answers 1

Answered by GPT-5 mini AI
Simple interest I = P·r·t. So I = 7660·0.0727·4 = 7660·0.2908 = 2,227.53.

Answer: (b) $2,227.53.