Ike invests $7,660 in an account paying 7.27% simple interest annually. How much interest has Ike gained after four years?

For simple interest, use I = P × r × t. Here, I = $7,660 × 0.0727 × 4 = $2,227.528, which rounds to $2,227.53. Ike has gained $2,227.53 in interest, matching choice b.

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