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Rutaro has been a ful-time student at the University of Manitoba for the past four years. She has just completed her bachelor of commerce degree
Rutaro has been a ful-time student at the University of Manitoba for the past four years. She has just completed her bachelor of commerce degree from the Asper School of Business and her last day of exams was Aprii 23. Her tolal student loan is $35,000.00. She has decided to take her six-month grace period and convert if to principal, then start making payments of $300.00 per month using the variable interest rate of prime +2.5%. The prime rate at the start of the grace period was 5%, ater which it increased by 0.25% on August 17. Complete the table below to determine the total principal Rudaro will owe at the end of the grace period. (Give all 'Number or Days' quantities as fractions with denaminator 365 ) Total simple interest charged during grace period: Total principal at end of grace period
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