Convert the annual rate to a monthly rate. Then, compute the simple interest on a monthly basis. Round answers to the nearest cent.
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Annalise has an online checking account at Wells Fargo Bank.Her balance at the beginning of the month was $5,000.00.During the month,she made deposits totaling $5,478.42,was charged a maintenance fee of $18,and earned $1.87 in interest.Her balance at the end of the month was $4,187.93.Annalise grew concerned because she spent considerably more than she made during the month.How much did Annalise spend during the month?