Ichiro took out a subsidized student loan of $13,000 at a 3.6% APR, compounded monthly, to pay for his last two semesters of college. If he will begin paying off the loan in 15 months, how much will he owe when he begins making payments?
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Home » Mathematics » Ichiro took out a subsidized student loan of $13,000 at a 3.6% APR, compounded monthly, to pay for his last two semesters of college. If he will begin paying off the loan in 15 months, how much will he owe when he begins making payments?