A restaurant borrows $19,700 from a local bank for 8 months. The local bank charges simple interest at an annual rate of 2.45% for this loan. Assume each month is 1/12 of a year. Answer each part below.

Do not round any intermediate computations, and round your final answers to the nearest cent.

(a)	Find the interest that will be owed after 8 months.

(b)	Assuming the restaurant doesn't make any payments, find the amount owed after 8 months.