Question: A person borrows $10,000 now at a variable interest rate tied to that can be adjusted every two years. He also borrows an additional $5,000

A person borrows $10,000 now at a variable interest rate tied to that can be adjusted every two years. He also borrows an additional $5,000 three years from now. The variable interest rate is expected to be 5% for the first two years, 6% for the following two years, and 8% for the last one year. How much money would she owe at the end of 5 years?

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