Question
Suppose that you have student loans totaling $12,000 when you graduate from college with an interest rate of 6% compounded monthly and the loan term
Suppose that you have student loans totaling $12,000 when you graduate from college with an interest rate of 6% compounded monthly and the loan term is 10 years. Round your answers to the nearest cent.
a.) Find the monthly payent of the student loans
b.) How much will you pay ove rthe lifetime of the loans?
c.) What is the total interest you will pay on the student loans?
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The Analysis And Use Of Financial Statements
Authors: Gerald I. White, Ashwinpaul C. Sondhi, Haim D. Fried
3rd Edition
0471375942, 978-0471375944
