Question

Principal: $4,000 at 6% for a) 4 years, b) 4 months, and c) 4 days.

Answer 1

Answer:

If you're asking for the interest:

a) 960

b) 80

c)2.63 approx.

Step-by-step explanation:

interest = principal x rate x time OR $I = prt$

TIME IS IN YEARS.

Thus, the first would be $I = 4000 *4 *6%$% = 960

Second: 4 months = $\frac{1}{3}$ year

I = 4000x$\frac{1}{3}$x6% = 80

Third: t = 4 days =$\frac{4}{365}$year

I = 4000x6%x$\frac{4}{365}$ ≈ 2.63