Tina and Mike have sold their house, but they will not get the proceeds from the sale for an estimated 4 months. The owner of the house they want to buy will not hold the house that long. Tina and Mike have two choices: let their dream house go or take out a bridge loan. The bridge loan would be for $85,000, at 8.5% simple interest, due in 120days. How much interest would they pay for this loan? (Round your answer to the nearest cent.) $

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