The interest on a $100,000 note at 9% for 120 days is: (Use a 365 day year and round to the nearest dollar.)

Name: The interest on a $100,000 note at 9% for 120 days is: (Use a 365 day year and round to the nearest dollar.)
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The interest is calculated using the formula: Interest = Principal x Rate x Time. Here, Principal = $100,000, Rate = 9% or 0.09, and Time = 120/365. So, Interest = $100,000 x 0.09 x (120/365) = $2,959.18, which rounds to $2,959.

The Interest on a $100,000 Note at 9% for 120