Mathematics, 06.05.2020 01:18 ijohnh14

A restaurant borrows $13,900 from a local bank for 11 months. The local bank charges simple interest at an annual rate of 7.3% for this loan. Assume each month is 1/12 of a year. Answer each part below.

Do not round any intermediate computations, and round your final answers to the nearest cent.

What is the interest that will be owed after 11 months

Assuming the restaurant doesn't make any payments, find the amount owed after 11 months.

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A restaurant borrows $13,900 from a local bank for 11 months. The local bank charges simple interest...

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