Answer:A = $4,066.00
Explanation:
Calculation:
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year.
Putting time into years for simplicity,
120 days / 360 days/year = 0.33 years.
Solving our equation:
A = 4000(1 + (0.05 × 0.33)) = 4066
A = $4,066.00
The total amount accrued, principal plus interest, from simple interest on a principal of $4,000.00 at a rate of 5% per year for 0.33 years (120 days) is $4,066.00.
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