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
[tex]Interest = P * r* \frac{n}{365}[/tex]
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
[tex]Interest = 800 * 0.12* \frac{120}{365}[/tex]
Interest = 31.56164384
Interest = $32
