Question: 12. Use the ordinary interest method to find the rate of interest that Valley Mountain Vineyards pays on a loan of $5,700 for 235 days,

12. Use the ordinary interest method to find the rate of interest that Valley Mountain Vineyards pays on a loan of $5,700 for 235 days, if the amount of interest is $355.67. (Round to nearest tenth percent.)

4.1%. 6.2% 9.6%. 12.3%

13. Karen's Katering borrows $3,500, at 8.5% interest, for 240 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.)

$195.62 $198.33 $213.94. $297.50

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