8. A store manager obtained a loan of $45,000, at 6 3 8% interest, for 14 months to purchase supplies. Find the amount of simple interest. (Round to the nearest cent) $2,868.75 $3,346.88 $3,858.13 $40,162.50

8. A store manager obtained a loan of $45,000, at 6 3 8% interest, for 14 months to purchase supplies. Find the amount of simple interest. (Round to the nearest cent) $2,868.75 $3,346.88 $3,858.13 $40,162.50

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

8. A store manager obtained a loan of $45,000, at

interest, for 14 months to purchase supplies. Find the amount of simple interest. (Round to the nearest cent)

$2,868.75

$3,346.88

$3,858.13

$40,162.50

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