The interest the customer would pay is $318.78.
Interest can be described as the cost of borrowing. It is the amount of money a borrower has to pay to the lender.
Interest = amount borrowed x interest rate
Daily interest = $2,530.16 x 0.42%
$2,530.16 x 0.0042 = 10.63
Monthly interest = 10.63 x 30 = $318.80
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