Question: 6. You just took out a variable-interest-rate consumer loan set at 3 percent over prime. After 1 year, your rate jumps to 4 percent over

6. You just took out a variable-interest-rate consumer loan set at

6. You just took out a variable-interest-rate consumer loan set at 3 percent over prime. After 1 year, your rate jumps to 4 percent over prime. Treasury bills are currently paying 2 percent. What is the new interest rate on your consumer loan

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