The interest rate on an equity line of credit was 7 and 5/8 % last month. This month the interest rate is 9 and 3/8 %. How many percentage points has the interest rate increased? Can someone help me please?
9.375% - 7.625% = 1.750 % = 1 3/4 %
9.375% - 7.625% = 1.750 % = 1 3/4 %