Find the simple interest owed for the loan. \( \$ 2560 \) at \( 4.93 \% \) for 33 months The interest charged on a principal of \( \$ 2560 \) at an interest rate of \( 4.93 \% \) over 33 months is \( \$ \square \) (Round to the nearest cent as needed.)

To calculate the simple interest owed, we can use the formula: \[ I = P \times r \times t \] where: - \( I \) is the interest, - \( P \) is the principal amount (\$2560), - \( r \) is the annual interest rate (4.93% or 0.0493), and - \( t \) is the time in years. First, convert 33 months to years: \[ t = \frac{33}{12} \approx 2.75 \text{ years} \] Now plug the values into the formula: \[ I = 2560 \times 0.0493 \times 2.75 \] Calculating this gives: \[ I \approx 2560 \times 0.0493 \times 2.75 \approx 2560 \times 0.135475 = 346.40 \] Therefore, the interest charged on a principal of \$2560 at an interest rate of 4.93% over 33 months is \( \$346.40 \).