I just need an explanation with the answers on numbers 8-9. Thanks Solve the pro

Question

I just need an explanation with the answers on numbers 8-9. Thanks

Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent. 8) Annie's cafe borrows$10,000 at 5% for 210 days. Find the total amount that must be repaid 8) after 210 days. (Use a 365 day year.) A) $12,876.71 B) $10,028.77 C) $10,500.00 D) $10,287.67 9) Chris Owens opened a taxi service company. To pay for startup costs, Chris Owens borrowed 9) $58,000 from a bank at 4% for 1 year. Find the interest. A) $232.00 B) $2320.00 C) $60,320.00 D) $2900.00

Explanation / Answer

Simple interest=Principal*Interest rate*Time period

8.

Simple interest=(10000*5%*(210/365)=$287.67

Hence Amount=Principal+Simple interest

=(10000+287.67)=$10287.67(Approx)

9.

Simple interest=(58000*4%*1)=$2320

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