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Amertech borrowed $32 000.00 from Balzac Credit Union on May 17 at 12%. The interest rate was changed to 14.11% effective July 1 and to

Amertech borrowed $32 000.00 from Balzac Credit Union on May 17 at 12%. The interest rate was changed to 14.11% effective July 1 and to 13.27% effective October 1. The loan was repaid by payments of $17 000.000 on July 15 and the balance, including the accumulated interest, on November 20.

How much did the loan cost?

Question 5 options:

$1 257.41

$1 371.57

$1 542.86

$1 428.37

Question 6 (1 point)

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