Use the Formula $i = P r t$ To Reach a Solution for the Following Problem

Multiple Choice

Use the formula $i = P r t$ to reach a solution for the following problem. How much interest will be charged on a student loan if $8,820 is borrowed for 4 months at a 18% annual interest rate?

A) $530.40
B) $534.20
C) $529.20
D) $525.70
E) none of these