Question: Question 230f25 > This test: 25 point(s) possible @ This question: 1 point(s) possible Submit test The principal P is borrowed at a simple interest

Question 230f25 > This test: 25 point(s) possible @ This question: 1 point(s) possible Submit test The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 daysina 4 year. ' P =$5000, r=3.5%, t=6 months v The simple interest owed for the use of the money is $(8'7.50\". (Round to the nearest cent as needed.)

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