The Capital City School District states in its proposed budget that it expects to need to take out a loan for 45 days late in the school year to cover cash i- ow needs while the district waits to receive its state aid payment. The budget document also states that this i- gure assumes a simple interest rate of 3.8%, and the amount the district has budgeted for interest on this loan is $3,000. The budget document does not 7state how much the district will need to borrow, but as a concerned citizen you would like to know this. How much is the district planning to borrow

1 The Capital City School Districtes proposed budget that it aspects to need to take out a loan for 45 days late in the school year to cover cash low reeds wide the district wait to receive its stated payment. The budget documental states that this pure assumes a simple interest of and the amount the district has budgeted for interest on this loans 53.000 The budget document does not State how much the district will need to borrow, but as a concerned tiren you would like to know this. How much is the district planning to borrow 3640 350.183 3640.350.3 b 3540340 88.CO 5640.350.99