YouTube Maps Direct Care Connect Amazon.com - Onli... LastPass List of 56 ADHD (Att... Consummer Muthematics Computing the interest and repayment amount for a simple interest loan.- 13 A print shop borrows \( \$ 5700 \) from a credit union for 193 days. The credit union charges simple interest at an annual rate of \( 12 \% \) for this loan. Assume each day is \( \frac{1}{365} \) 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 193 days. \( \$ \) (b) Assuming the print shop doesn't make any payments, find the amount owed after 193 days. \( \$ \) \( \square \)

To calculate the interest owed after 193 days, we can use the formula for simple interest: \[ \text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time} \] Given: - Principal (\( P \)) = $5700 - Annual interest rate (\( r \)) = 12% = 0.12 - Time (\( t \)) = 193 days First, we need to convert the time from days to years: \[ t = \frac{193}{365} \text{ years} \] Now, we can calculate the interest owed after 193 days using the formula: \[ \text{Interest} = 5700 \times 0.12 \times \frac{193}{365} \] Let's calculate this. Calculate the value by following steps: - step0: Calculate: \(\frac{5700\times 0.12\times 193}{365}\) - step1: Multiply the terms: \(\frac{132012}{365}\) The interest owed after 193 days is approximately $361.68. Now, to find the amount owed after 193 days, we need to add the interest to the principal amount: \[ \text{Amount owed} = \text{Principal} + \text{Interest} \] Substitute the values: \[ \text{Amount owed} = 5700 + 361.68 \] Let's calculate this. Calculate the value by following steps: - step0: Calculate: \(5700+361.68\) - step1: Add the numbers: \(6061.68\) The amount owed after 193 days is $6061.68.