Answer:
$360.00
Step-by-step explanation:
The amount of interest due can be found from the formula ...
i = Prt
where P is the loan amount, r is the annual interest rate, and t is the number of years the amount accumulates interest.
Filling in the given values, we have ...
i = $15,000·0.072·(4/12) = $360
The accumulated interest after 4 months is $360.
