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Jung pays prime + 2 . 2 5 % on his small business line of credit. On the 1 0 th of each month, interest
Jung pays prime on his small business line of credit. On the th of each month, interest is calculated up to but not including the th and deducted from the companys chequing account. Jungs first loan advance of $ was made on May followed by a further advance of $ on June The prime rate was at on May and rose to on June How much interest was charged on June and July Use days a year. Do not round intermediate calculations. Round your final answers to decimal places.
Interest charged on June $
Interest charged on July $
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