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On July 1 5 , when the prime rate was set at 3 . 5 % , Canadian Footwear took out an operating loan from

On July 15, when the prime rate was set at 3.5%, Canadian Footwear took out an operating loan from CIBC for $9,750.00 at prime plus 1.75%. The terms of the loan require a fixed payment of $1,790.00 on the 15 th of every month until the loan is repaid. The prime rate climbed by 0.5% on September 26.
Complete the repayment schedule below by filling in the appropriate interest rates.
\table[[Date,\table[[Balance],[before],[Transaction]],\table[[Annual],[Interest],[Rate]],\table[[Number],[of Days]],\table[[Interest],[Charged]],\table[[Accrued],[Interest]],\table[[Payment],[(+) or],[Advance],[(-)
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