The interest rate per year is 2%, which is equivalent to 0.02 in decimal form. Since the interest is not compounded, we can simply calculate the interest earned over 4 months as:
Interest = Principal x Rate x Time
Interest = $41,000 x 0.02 x (4/12) (4 months is one-third of a year)
Interest = $273.33
Therefore, the total amount Irma will have in 4 months is the sum of her initial savings and the interest earned:
Total = $41,000 + $273.33
Total = $41,273.33
Rounding to the nearest cent, Irma will have $41,273.33 in total in 4 months.
(If this doesn’t seem right to you make sure you comment below!)