Suppose Sean would like start a small business and takes out a simple interest loan of $18,300 for 84 months at a rate of 14%.
Determine the amount of simple interest that will be repaid over the life of this loan. Round the solution to
the nearest cent, if necessary.

Simple interest owed = $

Determine the future value of this loan (the total amount repaid over the life of the loan). Round the
solution to the nearest cent, if necessary.

The future value of the loan is $