Question

What's the interest on $175.00 at 4% for 120 days?

Answer 1

p=175.00 rate=4% time=120 days so Simpleinterest=p*r*t/100
and convert 120 days into years

Answer 2

doesnt simple interest use a 360 day year?

Answer 3

That's what I thought. But the problem is in days.

Answer 4

120/360 = 1/3; so best guess is to use the time variable as 1/3