Answer:
Simple interest = $7.50
Step-by-step explanation:
Simple interest = Principal *rate *time
S.I = P*r*t
Principal ; p = $450
rate ; r = 5% or 0.05 as a decimal
time; t = 4 months , however, convert this to years by dividing by 12;
t = 4 / 12
Next, plug in the numbers into the formula;
S.I = 450 *0.05*[tex]\frac{4}{12}[/tex]
S.I = $7.5
Therefore simple interest in 4 months becomes $7.50
