(a) Find the interest that will be owed after 4 months. (b) Assuming Susan doesn't make any payments, find the amount owed after 4 months.

A First Course in Probability (10th Edition)
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Author:Sheldon Ross
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Chapter1: Combinatorial Analysis
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Susan takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 5.35%. Her loan is for $9100 for 4 months. Assume
1
of a year. Answer each part below.
12
each month is
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 4 months.
$4
(b) Assuming Susan doesn't make any payments, find the amount owed after 4 months.
%$4
Transcribed Image Text:Susan takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 5.35%. Her loan is for $9100 for 4 months. Assume 1 of a year. Answer each part below. 12 each month is 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 4 months. $4 (b) Assuming Susan doesn't make any payments, find the amount owed after 4 months. %$4
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