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iterest < Question 3, 8.3.7 > HW Score: 94.12%, 16 of 17 points O Points: O of 1 Save The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 365 days in a year. P = $10,500, 8%, t: 150 days The simple interest owed for the use of the money is $11. (Do not round until the final answer Then round to the nearest cent as needed.)