An 92,000 investment earned 4.6% rate of simple interest from December 9, 2019.to May 31, 2020 How much interest was earned? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) interesteamed square

## Step 1: Calculate the time in years.<br />### From December 9, 2019 to December 9, 2020 is 1 year or 365 days. From December 9, 2019 to May 31, 2020 is 21 + 31 + 29 (2020 is a leap year) + 31 + 30 + 31 = 173 days. The time in years is $\frac{173}{366} \approx 0.4727$ years.<br /><br />## Step 2: Convert the interest rate to a decimal.<br />### $4.6\% = 0.046$<br /><br />## Step 3: Calculate the interest earned.<br />### Using the formula $i = prt$, where $i$ is the interest earned, $p$ is the principal, $r$ is the interest rate, and $t$ is the time in years:<br />$i = 92000 \times 0.046 \times \frac{173}{366} \approx 1955.05$