Calculate the simple interest due on a 52-day loan of $4,800 if the annual interest rate is 5%. (Round your answer to the nearest cent.)

To calculate the simple interest, we use the formula:

\[
\text{Simple Interest (SI)} = P \times r \times t
\]

where:
- $ P $ = Principal (initial loan amount) = \$4,800
- $ r $ = Annual interest rate = 5% = 0.05
- $ t $ = Time in years

Since the loan is for 52 days, we need to convert this into years:

\[
t = \frac{52}{365} \approx 0.1425 \text{ years}
\]

Now, let's plug in the values:

\[
\text{SI} = 4800 \times 0.05 \times 0.1425
\]

\[
\text{SI} \approx 34.20
\]

So, the simple interest due on a 52-day loan of \$4,800 at an annual interest rate of 5% is **\$34.20**.

Would you like further details or have any other questions?

Here are 5 related questions to further your understanding:
1. How would the interest change if the loan duration was 100 days?
2. What is the total amount to be repaid after 52 days?
3. How would the interest be calculated for a compounded interest scenario?
4. If the principal was doubled to \$9,600, how much would the interest be?
5. How does changing the interest rate affect the total interest accrued?

**Tip:** When dealing with days in interest calculations, always convert the time into years by dividing by 365 to ensure accurate results.

Calculate the simple interest due on a 52-day loan of $4,800 if the annual interest rate is 5%. (Round your answer to the nearest cent.)

Find out how to calculate the simple interest due on a 52-day loan of $4,800 with an annual interest rate of 5%. This guide walks you through the steps, including time conversion, formula application, and rounding for precise results. Ideal for Grades 9-10 students looking to understand simple interest calculations.

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