Multiple Choice
Pasco Co. borrowed $20,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360-day year. How much interest would Pasco have to pay in a 30-day month?
A) $120.83
B) $126.88
C) $133.22
D) $139.88
E) $146.87
Correct Answer:
Verified
Correct Answer:
Verified
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