Alejandro obtained a loan for $8500 on October 26, 2016 at 4.25% p.a. On January 01, 2017,
Question:
Alejandro obtained a loan for $8500 on October 26, 2016 at 4.25% p.a. On January 01, 2017, the interest rate on the loan changed to 5.25% p.a. What was the total interest paid on the loan if he paid off the loan on June 30, 2017? What was the maturity value of the loan on this date?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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