Solve the Problem

question 91

Multiple Choice

Solve the problem. Round dollar amounts to the nearest cent. Use ordinary interest unless otherwise indicated.
-Chris Owens bought a new computer system. To pay for the system, he borrowed $3,290 from the credit union at interest for 110 days. Find the interest.

• A)$102.93
• B)$102.46
• C)$339.97
• D)$103.88

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Definitions:

Earnings Per Share

A financial metric that measures the amount of net income earned per share of stock outstanding.

Excess Cash

Funds that exceed the normal operational needs of a business, which may be used for investment or other purposes.

Earnings Per Share

A financial metric that calculates the portion of a company's profit allocated to each outstanding share of common stock, indicating the company's profitability.