QuestionThe lawyer for a credit union member has sent a cheque for $\$ 2525.09$ in full settlement of the member's loan balance including simple interest at $4 \frac{3}{4} \%$ for 8 months. How much of the payment is interest?
The amount of the payment that is interest is $\$ \square$ $\square$ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)