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A restaurant borrows $13,900 from a local bank for 5 months. The local bank charges simple interest at an annual rate of 7.3% for this loan. Assume each month is 112 of a year. Answer each part below.
(a) Find the interest that will be owed after 5 months.
(b) Assuming the restaurant doesn't make any payments, find the amount owed after 5 months.
Sagot :
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