amount borrowed $ 89,400 interest rate is 6.31% for a student federal loan 1) multiply the amount borrowed Times the interest rate to find the interest amount. at the principal and interest him out together to find a total of P and I. round to the nearest dollar. repeat this process for each year using the total you found for the next year‘s principal. repeat until you find the amount after 10 years. Federal Loan ProgramAmount BorrowedInterest Rate for 2017$89,400Subsidized Federal Loan6.31%e. Multiply the amount borrowed times the interest rate to find the interestamount. Add the principal and interest amount together to find the total of Pand I. Round to the nearest dollar. Repeat this process for the each year,using the total you found for the next year's principal. Repeat until you findthe amount after 10 years.Year PrincipalInterest RateInterest AmountTotal: Principal and Interest2.45.6.89.10

Calculation of Interest The purpose of providing interest for the loan amount to increase the…

amount borrowed $ 89,400 interest rate is 6.31% for a student federal loan 1) multiply the amount borrowed Times the interest rate to find the interest amount. at the principal and interest him out together to find a total of P and I. round to the nearest dollar. repeat this process for each year using the total you found for the next year‘s principal. repeat until you find the amount after 10 years.

amount borrowed $ 89,400 interest rate is 6.31% for a student federal loan 1) multiply the amount borrowed Times the interest rate to find the interest amount. at the principal and interest him out together to find a total of P and I. round to the nearest dollar. repeat this process for each year using the total you found for the next year‘s principal. repeat until you find the amount after 10 years.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting
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