Answer:
The penalty will be $46
Step-by-step explanation:
we know that
The simple interest formula is equal to
[tex]I=P(rt)[/tex]
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P is the amount withdrawn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
[tex]t=9/12\ years\\ P=\$2,250\\r=0.0275[/tex]
substitute in the formula above
[tex]I=2,250(0.0275)(9/12)[/tex]
[tex]I=\$46[/tex]
