Question: Use a 360-day year to answer the following problem. After working as a food broker for 8 years, Sam Hays had saved almost enough money

Use a 360-day year to answer the following problem. After working as a food broker for 8 years, Sam Hays had saved almost enough money to buy a fishing boat and move to Maine to open a charter fishing business. He still needed $55,000, which he could borrow until the end of the first fishing season. The lender charged 6.25% ordinary simple interest. Sam repaid them after 140 days. How much interest did Sam pay

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