Final answer:
To calculate the total interest using the U.S. Rule for a 120-day note with payments made at different intervals, you need to calculate the interest for each time period and add them together.
Step-by-step explanation:
To calculate the total interest using the U.S. Rule, we need to determine the interest for each time period and add them together.
1. First period: $11,500 x 7% x 45/365 = $82.60
2. Second period: ($11,500 - $4,025) x 7% x 30/365 = $60.79
3. Third period: ($11,500 - $4,025 - $3,450) x 7% x 45/365 = $74.87
Total interest = $82.60 + $60.79 + $74.87 = $218.26