1. A recent engineering graduate has a student loan of $20 000. The loan is interest free until January 1, 2019. She plans on making her first of the 20 loan repayments on October 1, 2019 and will continue to make a payment every 3 months thereafter. The student loan interest rate is 4% compounded quarterly (a) (b) (c) What is the amount of her quarterly payment (dollars and cents)? How much interest does she pay in her very last payment? How much interest has she paid in total over the life of the loan? 191