riahbear
riahbear riahbear
  • 02-04-2017
  • Mathematics
contestada

Choose the correct answer. Find the interest due on $800 at 12% for 120 days. = $

Respuesta :

lisboa lisboa
  • 26-12-2018

Answer:

$32

Step-by-step explanation:

interest due on $800 at 12% for 120 days.

We use simple interest formula

Simple interest for 365 days formula is

[tex]Interest = P * r* \frac{n}{365}[/tex]

P is the principal amount= 800

r = rate of interest = 12% = 12/100 = 0.12

n = number of days = 120

Plug in all the values in the formula

[tex]Interest = 800 * 0.12* \frac{120}{365}[/tex]

Interest = 31.56164384

Interest = $32

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