Multiple Choice
Pace Co.borrowed $25,000 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 Pace have to pay in a 30-day month?
A) $182.76
B) $138.96
C) $151.04
D) $172.19
E) $135.94
Correct Answer:
Verified
Correct Answer:
Verified
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