kyle has a $15,000 in college debt when he graduates. he will pay it back with regular monthly payments $283.07 for the next 5 years. his loan is charging 5% interest per year compounded monthly. at the end of the 5 years how much total interest will kyle have paid.
kyle has a $15,000 in college debt when he graduates. he will pay it back with regular monthly payments $283.07 for the next 5 years. his loan is charging 5% interest per year compounded monthly. at the end of the 5 years how much total interest will kyle have paid.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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kyle has a $15,000 in college debt when he graduates. he will pay it back with regular monthly payments $283.07 for the next 5 years. his loan is charging 5% interest per year compounded monthly. at the end of the 5 years how much total interest will kyle have paid.
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