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When Leila had 3 years left in college, she took out a student loan for $13,155. The loan has an annual interest rate of 7.2%.
When Leila had 3 years left in college, she took out a student loan for $13,155. The loan has an annual interest rate of 7.2%. Leila graduated 3 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Leila will make monthly payments for 5 years after graduation. During the 3 years she was in school and not making payments, the loan accrued simple interest. Answer each part. ***Do not round intermediate computations, and round your answers to the nearest cent. ***
(a) If Leila's loan is subsidized, find her monthly payment.
Subsidized loan monthly payment:
(b) If Leila's loan is unsubsidized, find her monthly payment.
Unsubsidized loan monthly payment:
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