Yoo, Incorporated, has arranged a line of credit that allows it to borrow up to $51 million at any time. The interest rate is .627 percent per month. Additionally, the company must deposit 5 percent of the amount borrowed in a noninterest-bearing account. The bank uses compound interest on its IIne-of-credit loans. If the company needs $27 million for 8 months, how much will it pay in interest?
A. $1,307,504.17
B. $1,619,200.22
C. $1,457,280.19
D. $1,384,416.18
