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The principal P = $400 is borrowed at simple interest rate r = 6.25% for a period of time t = 3 months. Find

The principal P = $400 is borrowed at simple interest rate r = 6.25% for a period of time t = 3 months. Find the sin interest owed for the use of the money. Assume 360 days in a year and round to the nearest cent. A. $6.82 OB. $4.25 OC. $6.25 OD. $75.00

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