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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. What will the payments be and what total interest will the student pay? (6 points)
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The Global Financial Crisis What Have We Learnt
Authors: Steven Kates
1st Edition
0857934228, 978-0857934222
