To pay for car repairs, you take out a simple interest loan for $1580 at a rate of 6.5% for 180 days. Answer parts (a) - (c).

a. Find the interest you will pay if the lender uses the Banker's Rule (360 days in a year).

The interest you will pay if the lender uses the Banker's Rule will be $51.35.

(Do not round until the final answer. Then round to the nearest cent as needed.)

b. Find the interest you will pay if the lender uses 365 days in a year.

The interest you will pay if you repay the loan after

180 days is $

(Do not round until the final answer. Then round to the nearest cent as needed.)