Sanjeev takes out a $2,700 variable interest loan at prime +0.5% when the prime rate was 4.25%. After three months the p

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answerhappygod
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Sanjeev takes out a $2,700 variable interest loan at prime +0.5% when the prime rate was 4.25%. After three months the p

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Sanjeev takes out a $2,700 variable interest loan at prime +0.5%when the prime rate was 4.25%. After three months the prime rateincreased by ½%. How much did Sanjeev have to pay if they repaidthe loan after four months total?For full marks your answer(s) should be rounded to the nearestcent.
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