9,10

Lacy has a $45,000.00 student loan when she graduates on May 4 , and the prime rate is set at 5.25%. She has decided at the end of the grace period to convert the interest to principal, and she sets her fixed monthly payment at $825.00. She opts for the variable rate on her student loan. Create the first four repayments of her repayment schedule. Calculate the total interest charged for both the grace period and the four payments combined. Assume February does not involve a leap year. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, " $149.63 ".) (Give all "Number of Days" quantities as fractions with denominator 365.) Total combined interest charged for grace period and first four months: Amarjeet graduated from the University of Calgary on May 2 and has student loans totalling $37,000.00. The prime rate upon graduation was 5%. He has decided to pay in full the interest charged during the grace period (i.e., he is not converting it to principal) before starting monthly payments of $650.00 at the fixed interest rate. Complete the table below, including calculations for the grace period and the first three months of his repayment schedule. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, "-\$149.63".) (Give all "Number of Days" quantities as fractions with denominator 365.) Lacy has a $45,000.00 student loan when she graduates on May 4 , and the prime rate is set at 5.25%. She has decided at the end of the grace period to convert the interest to principal, and she sets her fixed monthly payment at $825.00. She opts for the variable rate on her student loan. Create the first four repayments of her repayment schedule. Calculate the total interest charged for both the grace period and the four payments combined. Assume February does not involve a leap year. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, " $149.63 ".) (Give all "Number of Days" quantities as fractions with denominator 365.) Total combined interest charged for grace period and first four months: Amarjeet graduated from the University of Calgary on May 2 and has student loans totalling $37,000.00. The prime rate upon graduation was 5%. He has decided to pay in full the interest charged during the grace period (i.e., he is not converting it to principal) before starting monthly payments of $650.00 at the fixed interest rate. Complete the table below, including calculations for the grace period and the first three months of his repayment schedule. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, "-\$149.63".) (Give all "Number of Days" quantities as fractions with denominator 365.)