On January 02, 2019, Chloe took a demand loan of $15,280 at 8.25% p.a. simple interest. On
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On January 02, 2019, Chloe took a demand loan of $15,280 at 8.25% p.a. simple interest. On April 19, 2019, the prime rate decreased and the rate on the loan changed to 8% p.a. If Chloe cleared the loan on August 24, 2019, 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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