You need to borrow $27,500 to remodel your bookstore so that you can serve coffee to customers

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Question:

You need to borrow $27,500 to remodel your bookstore so that you can serve coffee to customers as they browse or sit and read. You borrow the funds for 14 months at an interest rate of 9.25%. Find the interest due on the loan and the maturity value at the end of 14 months.