Question 15 • [PERFIN] Personal Finance, Sem 2 (26-27)
Use simple interest for the 18-day loan: interest = principal × annual rate × fraction of a year. Thus, $1,200 × 0.39 × (18 ÷ 365) ≈ $23.08, which rounds to $23. The company would charge $23 in fees, choice B.
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