Wasim takes out a loan on April 17, 2023 for $8,000 at a variable interest rate of 4% annually. On June 25, 2023 the interest rate increases to 4.25% annually. If Wasim repays the loan on September 9, 2023 how much money will Wasim have to repay? (Use 365 days per year.) Note: We are counting the first day of the loan period but not the last day. For full marks your answer(s) should be rounded to the nearest cent.

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Calculating Wasims Loan Repayment Heres how to calculate the total amount Wasim needs to repay 1 ... View the full answer