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You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing. The company needs to borrow $ 1 , 9

You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing. The company needs to borrow $1,900,000 for 90 days in order to purchase a large quantity of material at "closeout" prices. The interest rate for such loans at your bank, Rimrock Bank, is 15% using ordinary interest.(a)What is the amount (in $) of interest on this loan?$ (b)After making a few "shopping" calls, you find that Southside National Bank will lend at 15% using exact interest. What is the amount (in $) of interest on this offer? (Round your answer to two decimal places.)$ (c)So that it can keep your business, Rimrock Bank has offered a loan at 14.5% using ordinary interest. What is the amount (in $) of interest on this offer?$ (d)(Challenge) If Southside National wants to compete with Rimrock's last offer (part c) by charging $1,875 less interest, what rate (as a %), rounded to the nearest hundredths of a percent, must it quote using exact interest? %

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