The interest due is ​$ round to the nearest cent

Question

~​Often, through​ government-supported programs, students may obtain​ "bargain" interest rates such as​ 6% or​ 8% to attend college.​ Frequently, payments are not due and interest does not
accumulate until the student stops attending college. A student has borrowed ​$19 comma 000
 
at an annual interest rate of 6.9
​%.
Calculate the amount of interest due 4
 
months
 
after the student must begin payments.

Answer 1

4 months is 1/3 of a year. Assuming simple interest at 6.9% per year, 1/3 would be 6.9/3=2.3%. And 2.3*19000/100=$437.