Question 1129957
simple interest formula is i = p * r * n


i is the interest.
p is the principal.
r is the interest rate per time period.
n is the number of time periods.


in your problem:


p = 4800
n = 7 months
i = 119.


the formula becomes 119 = 4800 * r * 7


solve for r to get r = 119 / (7 * 4800)


you get r = .0035416667.


that's the interest rate per month.


multiply by 12 to get r = .0425.


that's the interest rate per year.


multiply that by 100 to get annual percent rate (apr) = 4.25%.