Question
Consider a student loan of $12,500 at a fixed APR of 6% for 2years. a. Calculate the monthly payment. b. Determine the total amount paid
Consider a student loan of $12,500 at a fixed APR of 6% for 2years.
a. Calculate the monthly payment.
b. Determine the total amount paid over the term of the loan.
c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
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Quantitative Financial Analytics The Path To Investment Profits
Authors: Edward E Williams, John A Dobelman
1st Edition
9813224258, 978-9813224254
