Final answer:
The simple interest earned on $1,500 in 7 months at an annual interest rate of 2.6% is $27.25.
Step-by-step explanation:
To calculate the simple interest earned, you can use the formula:
Simple Interest = Principal x Interest Rate x Time
In this case, the principal is $1,500, the interest rate is 2.6%, and the time is 7 months.
Convert the interest rate to a decimal by dividing it by 100:
Interest Rate = 2.6%
= 0.026
Now, substitute the values into the formula:
Simple Interest = $1,500 x 0.026 x (7/12)
Simplify the expression:
Simple Interest = $27.25
Therefore, the simple interest earned on $1,500 in 7 months at an annual interest rate of 2.6% is $27.25.