Anja received a student loan of $56,000 at 6.55% compounded semi-annually. She was required to settle the
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Anja received a student loan of $56,000 at 6.55% compounded semi-annually. She was required to settle the loan by making payments of $1409.07 at the beginning of every month for a period of five years from the date of graduation. How long is the deferral period? Express your answer in years rounded to two decimal places.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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