Multiple Choice
Solve the problem. Assume that simple interest is being calculated in each case. Round the answer to the nearest cent
unless otherwise indicated.
-Andy Jones opened a security service company. To pay for startup costs, Andy Jones borrowed $40,000 from a bank at 5% for 1 year. Find the interest.
A) $2000.00
B) $42,000.00
C) $2400.00
D) $200.00
Correct Answer:
Verified
Correct Answer:
Verified
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