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A Store Manager Obtained a Loan of $25,000, At 638%6 \frac { 3 } { 8 } \%

Question 3

Multiple Choice

A store manager obtained a loan of $25,000, at 638%6 \frac { 3 } { 8 } \% interest, for 15 months to purchase supplies. Find the amount of simple interest. (Round to the nearest cent)


A) $1,992.19
B) $2,502.25
C) $1,721.13
D) $2,125.37

Correct Answer:

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