On July 1, David borrowed $9,500 from his revolving line of credit. At the time the annual simple interest rate was 3.80%. On September 15, the annual interest rate was lowered to 3.60%. Determine the interest paid from July 1^st to December 31^st. A) $99.62 B) $171.47 C) $180.99 D) $164.05 E) $176.22

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The interest is calculated separately for two periods: July 1 to September 15 at 3.80% and September 15 to December 31 at 3.60%. The total interest is the sum of the interest from both periods.

On July 1, David Borrowed $9,500 from His Revolving Line