Question
Consider a student loan of 15,000 at a fixed APR of 9 9 % for 20 20 year Calculate the monthly payment. b. Determine the
Consider a student loan of
15,000 at a fixed APR of 9
9% for 20
20 year
Calculate the monthly payment.
b. Determine the total amount paid over the term of the loan.
c. Of the total amountpaid, what percentage is paid toward the principal and what percentage is paid for interest.
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
