mariahc90041 mariahc90041 19-06-2024 Business Answered The principal P=$6000 is borrowed at simple interest rate r=5% for a period of time t=1 year. Find the simple interest owed for the use of the money. Assume 360 days in a year and round to the nearest cent. A. $50.00 B. $1200.00 C. $300.00 D. $63.16