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, respectivelyloan amount gathers Interest of 1%, compounded quarterly, Nolan is in school and 3compounded quarterly, during a 6-month grace period after graduation KaWhat the loan balance in dollars) after the grace ? the freshman year loan carns 1Interest for 3/4 year during the first yearthen for 3 full years until graduation. Make similar assumptions for the loans for the other years. (Round your answer to the nearest cent.) (b) After the grace period, the loan is amortized over the next 10 years at 3%, compounded quarterlyFind the quarterly payment (in dollars)(Round your answer to the nearest cent.) ) Nolan decides to pay an additional $60 per payment, how many payments will amortize the debt ? (Round your answer to two decimal places.) payments What amount ( dollars) should be added to the last payment to pay the loan in full( Round your answer to the nearest cent.) $ () much will Nolan save (dollars) by paying the extra $with each payment? (Round your answer to tho nearest cent.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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, respectivelyloan amount gathers Interest of 1%, compounded quarterly, Nolan is in school and 3compounded quarterly, during a 6-month grace period after graduation KaWhat the loan balance in dollars) after the grace ? the freshman year loan carns 1Interest for 3/4 year during the first yearthen for 3 full years until graduation. Make similar assumptions for the loans for the other years. (Round your answer to the nearest cent.) (b) After the grace period, the loan is amortized over the next 10 years at 3%, compounded quarterlyFind the quarterly payment (in dollars)(Round your answer to the nearest cent.) ) Nolan decides to pay an additional $60 per payment, how many payments will amortize the debt ? (Round your answer to two decimal places.) payments What amount ( dollars) should be added to the last payment to pay the loan in full( Round your answer to the nearest cent.) $ () much will Nolan save (dollars) by paying the extra $with each payment? (Round your answer to tho nearest cent.
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
