Multiple Choice
On January 5, Steven received a $25,000 advance on a revolving line of credit at 3.75% annual rate. On march 5, the annual rate increased to 4.25%. Determine the interest to be paid from January 5th to August 15th.
A) $626.03
B) $632.03
C) $638.03
D) $644.03
E) $650.03
Correct Answer:
Verified
Correct Answer:
Verified
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