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uncements ssions S Luciana takes out a subsidized student loan of $4300 at an annual rate of 6%, compounded monthly. No payments are made while
uncements ssions S Luciana takes out a subsidized student loan of $4300 at an annual rate of 6%, compounded monthly. No payments are made while Luciana is in school; furthermore, since Luciana's loan is subsidized, interest does not accumulate. After finishing college in 3 years, she must amortize the loan over the next 5 years by making equal monthly payments. Find Luciana's monthly payment: Libraries t Services Find the total amount Luciana will pay over the lifetime of the loan: Find the total amount of interest Luciana will pay over the lifetime of the loan: ng Kateri takes out a unsubsidized student loan of $4300 at an annual rate of 6%, compounded monthly. No payments are made while Kateri is in school; however, since Kateri's loan is unsubsidized, interest does accumulate. After finishing college in 3 years, the accumulated interest is added to the balance of her loan and she must amortize the total over the next 5 years by making equal monthly payments. Find the total balance (interest plus original balance) of the loan after Kateri finishes college: Find Kateri's monthly payment: Find the total amount Kateri will pay over the lifetime of the loan: Find the total amount of interest Kateri will pay over the lifetime of the loan
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