Question
A college student foolishly uses student loan money to buy a really cool TV for $2500. The student loan has an interest rate of 2.9%
A college student foolishly uses student loan money to buy a really cool TV for $2500. The student loan has an interest rate of 2.9% compounded monthly. The life of the student loan is 20 years. How much will the TV cost the foolish student if payments are made every month for 20 years?
Group of answer choices:
$3333.33
$2500.00
$3297.60
$797.60
$4287.50
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Investment Science
Authors: David G. Luenberger
2nd Edition
0199740089, 978-0199740086
