Answered

Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

When Deandre had 3 years left in college, he took out a student loan for $14,922. The loan has an annual interest rate of 4.5%. Deandre graduated 3 years
after acquiring the loan and began repaying the loan immediately upon graduation.
According to the terms of the loan, Deandre will make monthly payments for 5 years after graduation. During the 3 years he 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. If necessary, refer to the list of financial formulas.
(a) If Deandre's loan is subsidized, find his monthly payment.
Subsidized loan monthly payment: $
(b) If Deandre's loan is unsubsidized, find his monthly payment.
Unsubsidized loan monthly payment: $

Sagot :

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.