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Martina's grandparents paid for the first 3 years of her college costs. As a senior, she was approved for a federal unsubsidized loan in the
Martina's grandparents paid for the first years of her college costs. As a senior, she was approved for a federal unsubsidized loan in the amount of $ at a interest rate for years.
a If she chooses to make interestonly payments until the monthly loan payments are due, for how long will she be making interestonly payments? Express as a decimal in years
b What would be the total amount of her interestonly payments?
c If she begins her loan repayment with no interest capitalization since she already paid the interest when she was in school and during the month grace period, how much will she have paid in interest for this loan by the end of the year loan period?
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