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Karen's Katering Borrows $4,500, at 8

Question 14

Multiple Choice

Karen's Katering borrows $4,500, at 8.5% interest, for 260 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent)


A) $304.17
B) $287.95
C) $290.56
D) $272.47

Correct Answer:

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