A Student Has a Savings Account Earning 8% Simple Interest

Multiple Choice

A student has a savings account earning 8% simple interest. She must pay $1,400 for first-semester tuition by September 1 and $1,400 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 $1,400 between September 1 and January 1? Round your answer to two decimal places. ​

A) $2,781.58
B) $2,772.55
C) $2,763.64
D) $2,746.15
E) $2,784.18