Central Auto Parts borrowed $$ \$ 250,000 $$ at $$ 9 \% $$ interest on July 12 for 140 days. (a) If the bank uses the ordinary interest method, what is the amount (in $$ \$ $$ ) of interest on the loan? $$ \$ \square $$ (b) What is the maturity date? --Select---

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To solve the problem, we will follow these steps:

### Part (a): Calculate the Interest Using the Ordinary Interest Method

1. **Identify the known values:**
   - Principal amount ($$ P $$): $$ 250,000 $$
   - Interest rate ($$ r $$): $$ 9\% = 0.09 $$
   - Time ($$ t $$): $$ 140 $$ days

2. **Ordinary interest method:**
   - The ordinary interest method uses a 360-day year for calculations.
   - The formula for calculating interest is:
     $$
     I = P \times r \times \frac{t}{360}
     $$

3. **Substituting the known values into the formula:**
   $$
   I = 250,000 \times 0.09 \times \frac{140}{360}
   $$

Now, let's calculate the interest.
Calculate the value by following steps:
- step0: Calculate:
  $$250000\times 0.09\left(\frac{140}{360}\right)$$
- step1: Reduce the fraction:
  $$250000\times 0.09\times \frac{7}{18}$$
- step2: Multiply the terms:
  $$22500\times \frac{7}{18}$$
- step3: Reduce the numbers:
  $$1250\times 7$$
- step4: Multiply the numbers:
  $$8750$$
The amount of interest on the loan using the ordinary interest method is $$ \$ 8,750 $$.

### Part (b): Determine the Maturity Date

1. **Identify the loan start date:**
   - Start date: July 12

2. **Calculate the maturity date by adding 140 days to the start date:**
   - July has $$ 31 $$ days, so from July 12 to July 31 is $$ 19 $$ days.
   - This leaves $$ 140 - 19 = 121 $$ days to account for in the following months.

3. **Count the days in the subsequent months:**
   - August has $$ 31 $$ days: $$ 121 - 31 = 90 $$ days remaining.
   - September has $$ 30 $$ days: $$ 90 - 30 = 60 $$ days remaining.
   - October has $$ 31 $$ days: $$ 60 - 31 = 29 $$ days remaining.
   - November has $$ 30 $$ days: $$ 29 - 30 = -1 $$ days remaining.

Since we have $$ -1 $$ days remaining after November, the maturity date will be in December.

4. **Determine the exact date in December:**
   - Since we need $$ 1 $$ more day into December, the maturity date is December 1.

### Final Answers:
(a) The amount of interest on the loan is $$ \$ 8,750 $$.

(b) The maturity date is December 1.
(a) The interest on the loan is \$8,750. (b) The maturity date is December 1.

Central Auto Parts borrowed \( \$ 250,000 \) at \( 9 \% \) interest on July 12 for 140 days. (a) If the bank uses the ordinary interest method, what is the amount (in \( \$ \) ) of interest on the loan? \( \$ \square \) (b) What is the maturity date? --Select---

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