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The Continental Bank made a loan of $ 3 4 , 0 0 0 . 0 0 on March 1 5 to Dr . Hirsch
The Continental Bank made a loan of $ on March to Dr Hirsch to purchase equipment for her office. The loan was secured by a demand loan subject to a variable rate of interest that was on March The rate of interest was raised to effective July and to effective September Dr Hirsch made partial payments on the loan as follows: $ on May ;$ on June ; and $ on October Each payment is first applied to any accumulated interest. Any remainder is then used to reduce the outstanding principal. The terms of the note require payment on October of any interest not paid off by partial payments. How much must Dr Hirsch pay on October
Dr Hirsch must pay $ on Ociober
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
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