The simple interest that Corey will earn after 3 months is $5.075
What is simple interest?
Simple interest is a calculation of interest that doesn't take into account the effect of compounding.
The simple interest (SI) is computed as :
= p * r * t / 100
= 1 / 100 ( 700 * 2.9 * 3 / 12 )
= 7 * 2.9 * 1 / 4
= 5.075
Hence, the simple interest that Corey will earn after 3 months is $5.075
Learn more about simple interest here : https://brainly.com/question/3777858
