Tony's Towing borrows $17,250, at 7.5% interest, for 320 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.) O $718.75 O $1,134.00 O $1,134.25 O $1,293.75

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Tony's Towing borrows $17,250, at 7.5% interest, for 320 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.)
O $718.75
$1,134.00
O $1,134.25
O $1,293.75
Transcribed Image Text:Tony's Towing borrows $17,250, at 7.5% interest, for 320 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.) O $718.75 $1,134.00 O $1,134.25 O $1,293.75
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