No More Pencils, Incorporated, disburses checks every 1 week\ that average $55,000 and take 7 days to clear. How much interest can the company earn annually if it delays transfer of funds from an interest-bearing account that pays 0.03 percent per day for these 7 days? Ignore the effects of compounding interest.

Multiple Choice

$5,765.76

$600,600.00

$6,246.24

$6,006.00

$115.50