Answer:
Interest= $ 18.73
Step-by-step explanation:
Given : $600 at 9.5% for 120 days
To find : Find the interest due
Solution :
Simple interest formula \(I=P\times r\times t\)
Principle(P)=$600 , rate(r)=9.5%=0.095 , time (t)= 120 days
In years, 1 year = 365 days
1 day = @@MATH_TOKEN_1@@ year
120 days = @@MATH_TOKEN_2@@ year
Put values in the formula
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Therefore, Interest= $ 18.73
