Answered

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Juan obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 13%. His loan is for $19,300 for 75 days. Assume each
day is
365
of a year. Answer each part below.
Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas.
(a)
Find the interest that will be owed after 75 days.
(b) Assuming Juan doesn't make any payments, find the amount owed after 75 days.

Sagot :

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