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Chang obtains a loan for home renovations from a bank that charges simple interest at...

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Basic Math

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Chang obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 15 His loan is for 12 500 for 84 days Assume each 1 day is of a year Answer each part below 365 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 84 days s b Assuming Chang doesn t make any payments find the amount owed after 84 days X

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