Tina and Mike have sold their house, but they will not get the proceeds from the sale for an estimated 120 days. The owner of the house they want to buy will not hold the house that long. Tina and Mike have two choices: let their dream house go or take out a bridge loan. The bridge loan would be for $28800 at 12.5% simple interest, due in 120 days. Calculate the interest they would have to pay for this loan. Use 360 days per year for your calculation