Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent.
-Andy Jones opened a security service company. To pay for startup costs, Andy Jones borrowed $49,000 from a bank at 5% for 1 year. Find the interest.
A) $245.00
B) $2940.00
C) $51,450.00
D) $2450.00

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The Answer of Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent.
-Andy Jones opened a security service company. To pay for startup costs, Andy Jones borrowed $49,000 from a bank at 5% for 1 year. Find the interest.
A) $245.00
B) $2940.00
C) $51,450.00
D) $2450.00

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