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A Student Has a Savings Account Earning 9% Simple Interest

Question 26

Multiple Choice

A student has a savings account earning 9% simple interest. She must pay $1,900 for first-semester tuition by September 1 and $1,900 for second-semester tuition by January 1. How much must she earn in the summer (by September 1) in order to pay the first-semester bill on time and still have the remainder of her summer earnings grow to $1,900 between September 1 and January 1? Round your answer to two decimal places. ​


A) $3,771.92
B) $3,758.19
C) $3,744.66
D) $3,718.18
E) $3,775.88

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