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A student receives a federally backed student loan of $6,000 at 3.5% interest compounded monthly. After finishing college in 2 years, the student must amortize
A student receives a federally backed student loan of $6,000 at 3.5% interest compounded monthly. After finishing college in 2 years, the student must amortize the loan in the next 4 years by making equal monthly payments. Wha will the payments be and what total interest will the student pay? (6 points)
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Economics And Personal Finance
Authors: Irvin Tucker, Joan Ryan
1st Edition
1133562108, 978-1133562108
