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Home Q & A Board Science-Related Homework Help Mathematics
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merrisara merrisara
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A year ago
Hari finished her education at Hampton College on the Green on June 3 with Canada Student Loans totalling $6800. She decided to capitalize the interest that accrued (at prime plus 2.5%) during the grace period. In addition to regular end-of-month payments of $200, she made an extra $500 lump payment on March 25 that was applied entirely to principal. The prime rate dropped from 6% to 5.75% effective September 22, and declined another 0.5% effective March 2. Calculate the interest accrued during the grace period the interest portion of the first payment.

▸ $286.67 interest
$48.05 interest portion of first payment

▸ $268.87 interest
$48.05 interest portion of first payment

▸ $286.67 interest
$49.05 interest portion of first payment

▸ $275.67 interest
$48.05 interest portion of first payment

▸ $286.67 interest
$47.05 interest portion of first payment
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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dangoondangoon
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A year ago
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merrisara Author
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A year ago
Thank you, thank you, thank you!
Fanmkreyol
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Yesterday
Brilliant ツ
Zacellison
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2 hours ago
Helped a lot
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