Answer Happy

This problem is a complex financial problem that requires several skills, perhaps some from previous sections. During four years of college, Nolan MacGregor's student loans are $4,000, $3,500, $4,400, and $5,000 for freshman year through senior year, respectively. Each loan amount gathers interest of 2 compounded quarterly, while Nolan is in school and 3%, compounded quarterly during a 6-month grace period after graduation (a) What is the loan balance (in dollars) after the grace period? Assume the freshman year toan earns 2 Interest for 3/4 year during the first year, then for 3 years until graduation Mare similar assumptions for the loans for the other years. (Round your answer to the nearest cent.) $ 17715.00 D) Alter the grace perlod, the loan is amortized over the next 10 years at 3%, compounded quarterly. Find the quarterty payment (in dollars). (Round your answer to the nearest cent) 551427 (c) If Nolan decides to pay an additional $60 per payment, how many payments will amortize the debt? (Round your answer to two decimal places 3522 payments What amount in dollars) should be added to the last payment to pay the loan info? (Round your answer to the nearest cent.) $120. X (C) How much we Nolan save (in dollars) by paying the extra sc with each payment? (round your answer to the nearest cent.)