A student takes out a loan of $2,600 at the beginning of each semester (semi-annually) for 9 semesters to pay for colleg

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

A student takes out a loan of $2,600 at the beginning of each semester (semi-annually) for 9 semesters to pay for colleg

Post by answerhappygod »

A Student Takes Out A Loan Of 2 600 At The Beginning Of Each Semester Semi Annually For 9 Semesters To Pay For Colleg 1
A Student Takes Out A Loan Of 2 600 At The Beginning Of Each Semester Semi Annually For 9 Semesters To Pay For Colleg 1 (18.99 KiB) Viewed 14 times
A student takes out a loan of $2,600 at the beginning of each semester (semi-annually) for 9 semesters to pay for college. The loan charges 5.2% interest compounded semiannually. The student graduates after the 9 semesters and refinances the loan to a lower 4.5% rate compounded monthly with monthly payments (made at the end of each month) for 120 months. Find the monthly payment and the total interest paid. The monthly payment is $. (Round to the nearest cent as needed.) The total amount of interest paid is. (Round to the nearest cent as needed.) come
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”