Determine the simple interest. (Assume 360 days in a year.) \( \mathrm{p}=\$ 545, \mathrm{r}=0.045 \% \) per day, \( \mathrm{t}=9 \) months The simple interest on \( \$ 545 \) at \( 0.045 \% \) per day for 9 months is \( \$ \square \) (Round to the nearest cent.)

To calculate the simple interest, we can use the formula: \[ \text{Simple Interest} = P \times r \times t \] Where: - \( P = 545 \) dollars (the principal) - \( r = 0.045\% \) per day (the annual interest rate expressed as a decimal, which is \( 0.00045 \)) - \( t \) is the time in years. Since 9 months is \( \frac{9}{12} = 0.75 \) years. First, we need to convert the interest rate per day into a rate for the entire period: \[ \text{Rate for 9 months} = r \times 30 \times 9 = 0.00045 \times 30 \times 9 = 0.1215 \] Now, plugging in the values: \[ \text{Simple Interest} = 545 \times 0.1215 \] Calculating: \[ \text{Simple Interest} = 66.295 \] Rounding to the nearest cent, the simple interest is \( \$66.30 \). So, the simple interest on \( \$545 \) at \( 0.045\% \) per day for 9 months is \( \$66.30 \).