Answer:
Step-by-step explanation:
Usually this problem is figured out by using 360 as the number of days in a year. It will give you a rough answer
i = p * r * t
p = 1000
r = 5.5% = 5.5/100
t = 120/365
i = 1000 * 5.5 / 100 * 120/365
i = 18.02 dollars.
If you take the number of days in a year you get
i = 1000 * 5.5/100 * 120/360
i = 18.33 cents.
Since you have a calculator, I would use the top answer (18.02)
