SOLUTION:
Step 1:
In this question, we are given the following:
Step 2:
The details of the solution are as follows:
PART ONE;
a) Find the interest that will be owed after 78 days:
[tex]Simple\text{ Interest = }\frac{Principal\text{ x Rate x Time}}{100}[/tex][tex]Simple\text{ Interest =}\frac{15,600\text{ x 3. 6 x }\frac{78}{365}}{100}=\text{ \$ 120.01}[/tex]
PART TWO:
Assume that she doesn't make any payment, the amount owed after 78 days:
[tex]\begin{gathered} Amount\text{ = Principal + Simple Interest} \\ Amount\text{ = \$15600 + \$ 120.01} \\ Amount\text{ = \$ 15,720.01} \end{gathered}[/tex]
