Section XXXXXXXXXX) Compute the specified quantity. Round all answers to the nearest month, the nearest cent, or the nearest 0.001%, as appropriate. You take out a 6-month, $5000 loan at 8% annual...

Section 3.1 (17)

Compute the specified quantity. Round all answers to the nearest month, the nearest cent, or the nearest
0.001%,
as appropriate.

You take out a 6-month,  $5000 loan at 8% annual simple interest. How much would you owe at the end of the 6 months?