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mezya [45]
3 years ago
15

The simple interest earned on a deposit of $4,000 at 5% for 120 days.

Mathematics
2 answers:
liraira [26]3 years ago
7 0

Answer:

Option B  \$66.67  

Step-by-step explanation:

we know that

The simple interest formula is equal to

I=Prt

where

P is the Principal amount of money to be invested

r is the rate of interest in decimal form

t is Number of Time Periods in years

in this problem

we assume that

1\ month=30\ days

t=120\ days=(1/3)\ years\\ P=\$4,000\\r=0.05

substitute in the formula above

I=\$4,000*0.05*(1/3)=\$66.67  



fgiga [73]3 years ago
5 0
B. I=PRT is the simple interest formula. 120 days is 4 months, or 1/3 of a year.
I=(4,000)(0.05)(0.33333)
I=$66.67
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