Question: Jacob loaned $2,250 to Peter at a simple interest rate of 3.93% p.a. for 2 years and 7 months. Calculate the amount of interest charged

Jacob loaned $2,250 to Peter at a simple interest rate of 3.93% p.a. for 2 years and 7 months. Calculate the amount of interest charged at the end of the term. Round to the nearest cent

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