Barbara Evanston, a novelty shop owner, can save $500 by purchasing merchandise now instead of waiting for two months. However, she will have to borrow $3,200 for 60 days and will have to pay 8.5% exact simple interest. How much will Barbara have to pay in interest to borrow the money? (Use a 365-day year.)

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The Answer of Barbara Evanston, a novelty shop owner, can save $500 by purchasing merchandise now instead of waiting for two months. However, she will have to borrow $3,200 for 60 days and will have to pay 8.5% exact simple interest. How much will Barbara have to pay in interest to borrow the money? (Use a 365-day year.)

Barbara Evanston, a Novelty Shop Owner, Can Save $500 by Purchasing