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Billy Thornton borrowed $155000 at a rate of 7.25% simple interest paid at the end of each month. The bank uses a 360 day year.
Billy Thornton borrowed $155000 at a rate of 7.25% simple interest paid at the end of each month. The bank uses a 360 day year. How much interest would Billy have to pay in a 30 day month?
a. 941.46
b. 936.46
c. 931.46
d. 933.96
e. 938.96
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