1. **State the problem:** Calculate the exact interest on 65250 at 9.5% interest rate from March 12, 2020, to September 15, 2020, using approximate time. 2. **Calculate the time period:** - From March 12 to September 15 is 6 months and 3 days. - Approximate time counts each month as 30 days, so total days = 6 \times 30 + 3 = 180 + 3 = 183 days. - Convert days to years: $$\text{Time} = \frac{183}{360} = 0.5083 \text{ years}$$ 3. **Use the simple interest formula:** $$\text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time}$$ - Principal = 65250 - Rate = 9.5% = 0.095 - Time = 0.5083 years 4. **Calculate the interest:** $$\text{Interest} = 65250 \times 0.095 \times 0.5083 = 3150.23$$ 5. **Final answer:** The exact interest using approximate time is **3150.23**.