Alex took out a variable rate $50,000 loan on July 3 at prime + 4%...
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Accounting
Alex took out a variable rate $50,000 loan on July 3 at prime + 4% when prime was set at 3%. The prime rate increased % on August 15.
A) How much simple interest does Alex owe if the loan is paid back on September 19?
B) Which method did you use to calculate number of days?
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