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25 May, 04:52

Dr. lee went to a bank to get a loan for some new furniture for the waiting area at her clinic. she wanted to borrow $5,000 to be paid back over 3 years. last week the interest rate was 4.25%. but this week theinterest rate went up to 4.50%. how much additional interest will Dr. lee pay because she waited the extra week

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  1. 25 May, 05:14
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    5000 * (4.50%-4.25%) = 5000*0.25%=12.5 dollars

    additional interest is 12.5 dollars.
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Home » Mathematics » Dr. lee went to a bank to get a loan for some new furniture for the waiting area at her clinic. she wanted to borrow $5,000 to be paid back over 3 years. last week the interest rate was 4.25%. but this week theinterest rate went up to 4.50%.
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