Solve the Problem $3 \frac { 2 } { 3 } \%$

question 103

Multiple Choice

Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent.
-Robert Hall bought a new computer system. To pay for the system, he borrowed $5110 from the Credit union at $3 \frac { 2 } { 3 } \%$ Simple interest for 120 days. Find the interest owed. (Use a 365 day year.)

• A) $61.60
• B) $50.40
• C) $46.84
• D) $187.37

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Definitions:

Mutual Influence

The effect or impact that two or more entities have on each other.

Positive Regard

The expression of acceptance and support to an individual irrespective of their actions or feelings, often considered essential in humanistic psychological approaches.

Source of Power

This pertains to the origin or basis from which an individual or organization derives the ability to influence or control outcomes.

Organizational Members

Individuals who belong to and participate in the structure and activities of an organization.