A restaurant borrows $17.50 from a local bank for 4 months. The local bank charges simple interest at an annual rate of for this loan. Assume each month is 1/12 of a year. Answer each part below. Do not round any intermediate computations, and round your final answers to the nearest cent. Find the interest that will be owed after 4 months. Assuming the restaurant doesn't make any payments, find the amount owed after 4 months.