Question

whats the interest on $175.00 at 4% for 120 days

Answer 1

P=175
R=4%
T=120 days
Interest=P*R*T
Interest=175*(4/100)*120/365
Interest=$2.3013

Answer 2

\(\bf i = prt
\\ \quad \\
i = interest\\
p=principal \to 175.00\\
r = rate\to 4\%\to \frac{4}{100}\to 0.04\\
t=years\to 1year=365days\quad thus\quad \frac{120}{365} \approx 0.3287year
\\ \quad \\
i = prt\implies 175.00\cdot 0.04\cdot 0.3287\)