Question

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

Answer 1

I think it is 32.00 dollars for 120 days
I AM NOT SURE

Answer 2

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

$Interest = P * r* \frac{n}{365}$

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

$Interest = 800 * 0.12* \frac{120}{365}$

Interest = 31.56164384

Interest = $32