Abank offers a four year cd with an interest rate of 2.75%. the penalty for early withdrawal from the cd is nine months of simple interest, calculated on the amount withdrawn. rachel invests $6,200. if she withdraws $2250 after one year, how much will the penalty be? round answer to the nearest dollar.

The penalty will be $46

Step-by-step explanation:

we know that

The simple interest formula is equal to

where

I is the Final Interest Value

P is the amount withdrawn

r is the rate of interest  

t is Number of Time Periods

in this problem we have

substitute in the formula above

it has the same slope and a different y-intercept

hope this : )