Question: If $ 5 , 0 0 0 is borrowed at a simple interest rate of 4 . 8 0 % p . a . ,

If $5,000 is borrowed at a simple interest rate of 4.80% p.a., calculate the interest charged for 6 months.
Round to the nearest cent
If $5,000 is borrowed at a simple interest rate of 4.80%

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