Edgar has taken out a $6,250 unsubsidized stafford loan to fund his four-year undergraduate degree. the loan has a duration of 10 years and an interest rate of 6.1%, compounded monthly. how much interest capitalization will have accrued by the time edgar graduates? round all dollar values to the nearest cent.
a. $1,670.30
b. $1,722.22
c. $664.35
d. $1,524.96
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Edgar has taken out a $6,250 unsubsidized stafford loan to fund his four-year undergraduate degree. the loan has a duration of 10 years and ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Jason can mow his parents' yard in 3 hr. His brother can mow it in 4 hr. How long would it take them, working together, to mow the yard? (Assume two mowers are available.)
Answers (1)
Is the number 3.1x10^-5 written in scientific notation? Why or why not?
Answers (1)
87.05 multiplied by 1.6
Answers (2)
In a deck of 52 playing cards, there are 13 different cards in the deck that are hearts. What is the probability that if you cut the deck, you'll get a heart?
Answers (2)
A coordless phone costs $55 plus $25 for each extra handset. what is the cost of a coordless phone and 3 extra handsets
Answers (1)
New Questions in Mathematics
Amy got a $1,000 loan from her bank, and she had to repay $1,550. What are the principal and interest amounts in this transaction?
Answers (1)
What is 8/9 as a decimal rounded to nearest thousandth
Answers (1)
What is the mean cost of replacing brake pads for four different vehicles ai at the following prices $120,$235,$98,$142
Answers (1)
If f (x) = 1/2 [x], what is f (7.6) •3 •3.5 •3.8 •4
Answers (1)
8 people are about to board a plane. In how many ways can this be done?
Answers (2)