Question
You are paying for college with loans with annual interest at a rate of 8.0% per year. You borrow $20,000 at the beginning of year
You are paying for college with loans with annual interest at a rate of 8.0% per year. You borrow $20,000 at the beginning of year 1 (that is, at the start of your freshman year), $22,000 at the beginning of year 2, $25,000 at the beginning of year 3 and $29,000 at the beginning of year 4. You make no payments during your college days and then make no payments during your next 2 years of graduate school. How much will you owe at the end of year 6 when you finish graduate school?
a. $96,000.00
b. $111,974.40
c. $125,184.12
d. $129,222.31
e. $134,606.58
IF ANYONE COULD SHOW HOW TO DO THIS ON BA II PLUS?
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