Question: On July 15 , when the prime rate was set at 4.75%, Canadian Fookvear took out an operating loan from CiBC for $9,500,00 at prime

On July 15 , when the prime rate was set at 4.75%, Canadian Fookvear took out an operating loan from CiBC for $9,500,00 at prime plus 1.25%. The terms of the loan require a fixed payment of $1,800,00 on the 15 th of every month until the loan is repaid. The prime rate clanbed by 0.75% on September 21 . Complete the repayment schedule below by filing in the appropriate interest rates

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