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Rachel received a demand loan for $ 7553 from her bank on January 3 0 , 2 0 1 1 at 4.35% p . a

Rachel received a demand loan for $

7553

from her bank on January

30, 2011

4.35%

.

.

simple interest. On May

24, 2011,

the interest rate on the loan changed to

6.24 %

.

.

and Rachel settled the loan on July

16, 2011 .

Calculate the total interest paid on the loan.

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