Felipe takes out a loan for his college tuition from a bank that charges simple interest at an annual rate of 14%. His loan is for $8900 for 8 months. Assume 1 each month is 12 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 8 months. $1 (b) Assuming Felipe doesn't make any payments, find the amount owed after 8 months. $ X (No handwritin)

Felipe takes out a loan for his college tuition from a bank that charges simple interest at an annual rate of 14%. His loan is for $8900 for 8 months. Assume 1 each month is 12 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 8 months. $1 (b) Assuming Felipe doesn't make any payments, find the amount owed after 8 months. $ X (No handwritin)

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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