Determine the simple interest. (Assume 360 days in a year.) $$ p=\$ 617, r=0.045 \% $$ per day, $$ t=12 $$ months The simple interest on $$ \$ 617 $$ at $$ 0.045 \% $$ per day for 12 months is $$ \$ \square $$. (Round to the nearest cent.)

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To determine the simple interest, we can use the formula for simple interest:

$$ \text{Simple Interest} = \frac{p \times r \times t}{100} $$

Given:
- Principal amount $$ p = \$617 $$
- Rate of interest $$ r = 0.045\% $$ per day
- Time period $$ t = 12 $$ months

First, we need to convert the time period from months to days since the interest rate is given per day. There are 30 days in a month, so for 12 months, the total number of days is $$ 12 \times 30 = 360 $$ days.

Now, we can substitute the given values into the formula to calculate the simple interest.
Calculate the value by following steps:
- step0: Calculate:
  $$\frac{\left(617\times 0.045\times 360\right)}{100}$$
- step1: Remove the parentheses:
  $$\frac{617\times 0.045\times 360}{100}$$
- step2: Multiply the terms:
  $$\frac{9995.4}{100}$$
- step3: Convert the expressions:
  $$\frac{\frac{49977}{5}}{100}$$
- step4: Multiply by the reciprocal:
  $$\frac{49977}{5}\times \frac{1}{100}$$
- step5: Multiply the fractions:
  $$\frac{49977}{5\times 100}$$
- step6: Multiply:
  $$\frac{49977}{500}$$
The simple interest on $617 at 0.045% per day for 12 months is $99.954. Rounding to the nearest cent, the simple interest is $99.95.
The simple interest is \$99.95.

Determine the simple interest. (Assume 360 days in a year.) \( p=\$ 617, r=0.045 \% \) per day, \( t=12 \) months The simple interest on \( \$ 617 \) at \( 0.045 \% \) per day for 12 months is \( \$ \square \). (Round to the nearest cent.)

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