Isabel received a demand loan from her bank for $8500 at 4% p.a. simple interest. Three months
Question:
Isabel received a demand loan from her bank for $8500 at 4% p.a. simple interest. Three months later, the prime rate increased and the rate on the loan changed to 4.25% p.a. If she repaid the loan in full in 8 months, calculate the total amount of interest that she paid on this loan.
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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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