Merilyn, the owner of a small internet hosting business, loaned $4000 to an employee who promised to repay her $4600 after 8 months. Instead of loaning this money, if she had invested it in her local bank where the interest rate was 1.5% less than what she was offering her employee, how much would she have had in the bank at the end of 8 months? HINT: First calculate the interest rate that would have been charged on the loan.

Select one:

a.$4839.22

b.$4560.00

c.$4193.85

d.$4445.32

e.$4439.65