Ali takes out a loan for his college tuition from a bank

Last updated: 8/14/2022

Ali takes out a loan for his college tuition from a bank that charges simple interest at an annual rate of 5.35%. His loan is for $9100 for 8 months. Assume 1 12 each month is 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.