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Jina obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 7.45%. Her loan is for $13,400
Jina obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 7.45%. Her loan is for $13,400 for 85 days. Assume each day is 1365 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 85 days. $21.46 (b) Assuming Jina doesn't make any payments, find the amount owed after 85 days. $13,421.26
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