Jamie is saving for a trip to europe. she has an existing savings account that earns 2 percent annual interest and has a current balance of $4,500. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,500 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 5 percent.
a. if jamie were to withdraw the $1,500 from her savings account to finance the trip, how much interest would she forgo? $. if jamie borrows the $1,500 how much will she pay in interest? $
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