Question

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

Answer 1

Step 1:

In this question, we are given the following:

Step 2:

The details of the solution are as follows:

PART ONE;

a) Find the interest that will be owed after 78 days:

`Simple\text{ Interest = }\frac{Principal\text{ x Rate x Time}}{100}`
`Simple\text{ Interest =}\frac{15,600\text{ x 3. 6 x }(78)/(365)}{100}=\text{ \$ 120.01}`

PART TWO:

Assume that she doesn't make any payment, the amount owed after 78 days:

`\begin{gathered} Amount\text{ = Principal + Simple Interest} \\ Amount\text{ = \$15600 + \$ 120.01} \\ Amount\text{ = \$ 15,720.01} \end{gathered}`