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Jung pays prime + 2 . 2 5 % on his small business line of credit. On the 1 0 t h of each month,
Jung pays prime on his small business line of credit. On the of each month, interest is calculated up to but not including the and deducted from the company's chequing account. Jung's 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 changed on July
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