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Juanita takes out a federal unsubsidized loan for $13,100 with an interest rate of 6.5%, a term of 10 years, and payments deferred until 6
Juanita takes out a federal unsubsidized loan for $13,100 with an interest rate of 6.5%, a term of 10 years, and payments deferred until 6 months after graduation. Assume a 30-day month. She decides not to capitalize the interest. Find the total amount of interest paid on the student loan. A few years after Juanita graduates from college, she buys a house for $170,000 and a 20% down payment is made. A mortgage was secured at 2.8% for 15 years. Find the total amount of interest paid on the mortgage. What percentage of the amount borrowed is the interest in each case? Part: 0 / 4 Part 1 of 4 Find the total amount of interest paid on the student loan. Do not round intermediate computations, except the daily interest to the nearest cent and the monthly loan payment to the nearest cent. Juanita will pay $ of interest on the student loan. X
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