how to do this using the simple interest formula: $9450 invested at an interest rate of 2.95% p.a. for 5 months.

To calculate the simple interest using the formula:

\[
I = P \times r \times t
\]

where:
- $I$ is the interest,
- $P$ is the principal (the amount invested),
- $r$ is the annual interest rate (expressed as a decimal),
- $t$ is the time the money is invested for (in years).

### Given:
- $P = 9450$,
- $r = 2.95\%$ per annum = 0.0295 (as a decimal),
- $t = \frac{5}{12}$ years (since 5 months is 5/12 of a year).

Now, we substitute the values into the formula:

\[
I = 9450 \times 0.0295 \times \frac{5}{12}
\]

Let me calculate the interest for you.

\[
I = 9450 \times 0.0295 \times \frac{5}{12} \approx 116.31
\]

### The simple interest earned is approximately **$116.31**.

Would you like any further clarification or details on this? 

Here are 5 related questions for further practice:
1. How much would you earn if the interest rate was 4% p.a. instead of 2.95%?
2. What would the interest be if the investment period was 1 year?
3. How does the simple interest compare with compound interest for the same values?
4. How much total money would you have after the 5 months?
5. What is the interest if the investment period was extended to 1.5 years?

**Tip**: When calculating time in simple interest, always convert months to years by dividing the number of months by 12.

How to do this using the simple interest formula: $9450 invested at an interest rate of 2.95% p.a. for 5 months.

Learn how to calculate simple interest on an investment of $9450 at an interest rate of 2.95% per annum for 5 months. This solution walks through key concepts, including the simple interest formula, converting months to years, and provides a detailed calculation. Suitable for students in Grades 6-8.

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