Answer: b. $2227.53
Step-by-step explanation:
The formula of simple interest is given by :-
[tex]\text{Simple interest}=P\cdot r\cdot t[/tex], where P =principal amount, r is the rate of interest (in decimal) and t is time in years./
Given : Principal amount P = 7,660
time t= 4 years
rate of interest = 7.27%=0.0727
Then, The simple interest is given for 4 years is by :-
[tex]\text{Simple interest}=7660\times0.0727\times4\\\Rightarrow\ \text{Simple interest}=\$2227.528\approx\$2227.53[/tex]
