The amount of interest that Jasper will collect on the loan is: $\bold{\text{(Use 360 days a year.) }}$

A) $1,750.
B) $145.83.
C) $437.50.
D) $19.44.
E) $875.00.

Question

The amount of interest that Jasper will collect on the loan is:

\bold{\text{(Use 360 days a year.) }}

A) $1,750.
B) $145.83.
C) $437.50.
D) $19.44.
E) $875.00.

Shaima Rehmani · Accepted Answer

Final Answer : C, Explanation :  Using the simple interest formula, we can find the amount of interest Jasper will collect:$I=PRT I=25000(0.07)(90/360) I=437.50$Therefore, the answer is (C) $437.50.

The amount of interest that Jasper will collect on the loan is: $\bold{\text{(Use 360 days a year.) }}$

A) $1,750.
B) $145.83.
C) $437.50.
D) $19.44.
E) $875.00.

Definitions

Learning Objectives

Learning Objectives

Related questions

The amount of interest that Jasper will collect on the loan is: (Use 360 days a year.) \bold{\text{(Use 360 days a year.) }}(Use 360 days a year.) A) $1,750.B) $145.83.C) $437.50.D) $19.44.E) $875.00.

Definitions

Learning Objectives

Learning Objectives

Related questions

The amount of interest that Jasper will collect on the loan is: $\bold{\text{(Use 360 days a year.) }}$

A) $1,750.
B) $145.83.
C) $437.50.
D) $19.44.
E) $875.00.