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Isabel received a demand loan from her bank for $8,500 at 4% simple annual interest. Three months later, the prime rate increased and the rate
Isabel received a demand loan from her bank for $8,500 at 4% simple annual interest. Three months later, the prime rate increased and the rate on the loan changed to 4.25%. If she repaid the loan in full in 8 months, calculate the total interest she paid on the loan.
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