Question

Maya takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 14%. Her loan is for $6800 for 8 months. Assume each month is \frac{1}{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. (b) Assuming Maya doesn't make any payments, find the amount owed after 8 months.

          Maya takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 14%. Her loan is for $6800 for 8 months.
Assume each month is \frac{1}{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.
(b) Assuming Maya doesn't make any payments, find the amount owed after 8 months.

Maya takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 14%. Her loan is for $6800 for 8 months.
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. If necessary, refer to the list of financial formulas.
(a) Find the interest that will be owed after 8 months.
(b) Assuming Maya doesn't make any payments, find the amount owed after 8 months.

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