<PRE><B>Question 1101445</B>
Keisha takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 8.95%. Her loan is for 3500 for 11 months. assume each month is 1/12 of a year.. 
Find the interest that will be owed after 11 months 
Assuming Keisha doesn’t make any payments,find the amount owed after11 months... 
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I = P*r*t
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I = 3500*0.0895*(11/12) = $287.15
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Cheers,
Stan H.
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