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Davinder wants to pay off a $18000 student loan that has an annual rate of 3.25% compounded semi-annually. Compare the number of payments and the
Davinder wants to pay off a $18000 student loan that has an annual rate of 3.25% compounded semi-annually. Compare the number of payments and the amount of interest paid if he his monthly payments were $775.48 as opposed to $525.27. Use your TVM Solver and show the following:
a) Number of Monthly Payments when payments are $775.48 and the total amount paid and the interest?
b) Number of Monthly Payments when payments are $525.27 and the total amount paid and the interest?
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