Answer:
$7.23
Explanation:
To find the interest earned, we'll use the below formula;
[tex]I=P\ast r\ast t[/tex]
where I = simple interest
P = amount invested (the principal) = $350
r = interest rate in decimal form = 6.2% = 6.2/100 = 0.062
t = time in years = 4 months = 4/12
Substituting the above values into our equation and solving for I, we'll have;
[tex]\begin{gathered} I=350\ast0.062\ast\frac{4}{12} \\ =7.23 \\ \therefore I=7.23 \end{gathered}[/tex]
Therefore, the interest earned will be $7.23.
