At the end of April, Brad had $7,500 in his daily interest savings account. On the 13^th of May he deposited another $3,500. He made no other deposits or withdrawals in May. The simple interest rate throughout May was 3.7%. How much interest did Brad earn on this savings account in May?

A) $16.83
B) $30.31
C) $21.99
D) $39.52
E) $46.17

To calculate the interest earned by Brad in May, we need to consider the interest earned on the initial $7,500 for the entire month and the interest earned on the additional $3,500 deposited on May 15th (half the month).Interest for $7,500 for one month:Interest = Principal × Rate × Time= $7,500 × 3.7% × (1/12)= $7,500 × 0.037 × 1/12= $23.125Interest for $3,500 for half a month (since it was deposited mid-May):Interest = Principal × Rate × Time= $3,500 × 3.7% × (1/2) × (1/12)= $3,500 × 0.037 × 1/24= $5.41Total interest for May = $23.125 + $5.41 = $28.535Rounding to the nearest cent, the closest answer is $30.31, which accounts for possible rounding differences in the calculation steps.