Explanation Option (b): The difference between the new loan and old loan can be obtained as follows: Total loan amount after the new loan = Old loan paid off-New loans extended = $50 billion-$30 billion x

Total loan amount.

EP ECONOMICS,AP EDITION-CONNECT ACCESS

20th Edition

ISBN: 9780021403455

Author: McConnell

Publisher: MCGRAW-HILL HIGHER EDUCATION

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Chapter 33, Problem 8RQ

To determine

Total loan amount.

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Chapter 33, Problem 7RQ

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