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To pay for car repairs, you take out a simple interest loan for $ 1 5 8 0 at a rate of 9 . 5

To pay for car repairs, you take out a simple interest loan for $1580 at a rate of 9.5% for 120 days. Answer parts (a)-(c).
a. Find the interest you will pay if the lender uses the Banker's Rule (360 days in a year).
The interest you will pay if the lender uses the Banker's Rule will be $
(Do not round until the final answer. Then round to the nearest cent as needed.)
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