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Beth obtained a student loan of $75,000 to finish her last 2 years of medical school. She would make no payments until she finished, but
Beth obtained a student loan of $75,000 to finish her last 2 years of medical school. She would make no payments until she finished, but the loan would accumulate interest at 2.7% per year compounded monthly. When she finished school, Beth was to begin monthly payments that would repay the loan in 8 years at 2.7% per year compounded monthly. What are the monthly payments?
(Also chegg already has this exact question posted and answered, but it says the interest is .033/12 which I believe it should be i=0.027/12)
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