math review question

The interest rate on an equity line of credit was 6 3/4 % last year. This year the interest rate is 9 1/2 %. How many percentage points has the interest rate increased?

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  1. 9 1/2 - 6 3/4 =
    8 6/4 - 6 3/4 = ??

    We'll be glad to check your answer.

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