Solve the problem. Assume that simple interest is being calculated in each case. Round to the nearest cent.Chris Owens opened a computer service company. To pay for startup costs, Chris Owens borrowed $62,000 from a bank at 4% for 1 year. Find the interest.
A. $3,100.00
B. $64,480.00
C. $2,480.00
D. $248.00
Answer: C
Mathematics
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