Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How did you decide on the length of your loan? Explain why you chose your loan amount, interest rate, down payment percentage, etc. Provide citations




How did you decide on the length of your loan?   Explain why you chose your loan amount, interest rate, down payment percentage, etc. Provide citations for all researched items. Do NOT just make them up.  [For student loans only] Is your student loan subsidized or not (and what does that mean)?

Discuss how much your monthly loan payment would be and whether it is an affordable payment. Was the length of your loan an important factor in your decision?  How much total interest will you pay over the life of the loan? Discuss how this might affect your decision making in the future. As an LPN at a plasma center who makes $52,650 annuallyhow will this be broken down and put into action? Please included an introduction and conclusion.

Subsidized Student Loan
Interest deferred during college



Subsidized Student Loan Information
Total Amount of Subsidized Loans, P0: $10,500.00
Loan Rate, r (decimal): 0.055
Length of Loan Repayment after Graduation, N (years): 10



Subsidized Student Loan Calculator
Monthly Loan Payment Total Interest Paid Total Amount Paid (Loan plus Interest)
$113.95 $3,174.31 $13,674.31


Unsubsidized Student Loan


Interest accrued during college
Total $2,867


Unsubsidized Student Loan Information
Loan Rate, r (decimal): 0.0705
Length of Loan Repayment after Graduation, N(years): 10




Unsubsidized Student Loan Calculator
Monthly Loan Payment Total Interest Paid Total Amount Paid (Loan plus Interest)
$41.19 $2,076.34 $4,943.34

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

General Chemistry

Authors: Darrell Ebbing, Steven D. Gammon

9th edition

978-0618857487, 618857486, 143904399X , 978-1439043998

More Books

Students also viewed these Finance questions

Question

Draw a labelled diagram of the Dicot stem.

Answered: 1 week ago