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Answer :
Final answer:
The print shop would owe an interest of approximately $381.51 after 193 days. If no payments are made, the total amount owed would be $6,081.51.
Explanation:
The subject of this question is simple interest, which falls under the category of Mathematics, specifically financial mathematics. The grade is High School. Let's learn how to calculate the simple interest and the total amount owed.
(a) To find the interest owed after 193 days, we need to use the simple interest formula: Interest = Principal x Rate x Time. In this case, the principal is $5,700, the rate is 12% (or 0.12), and the time is 193/365 of a year. Plugging these into the equation gives us Interest = $5,700 x 0.12 x (193/365), which equals about $381.51.
(b) If the print shop does not make any payments, the amount owed after 193 days would be the original principal plus the interest. So, $5,700 + $381.51 equals $6,081.51 owed.
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