Billy Thornton borrowed $235,000 at a rate of 7.25%, simple interest, with 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?

Select the correct answer.

a. $1,419.79

b. $1,422.39

c. $1,418.49

d. $1,421.09

e. $1,417.19