You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay off the loan in 7 years. What will your monthly payments be? $ How much interest do you pay?
You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay off the loan in 7 years. What will your monthly payments be? $ How much interest do you pay?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay off the loan in 7 years.
What will your monthly payments be?
$
How much interest do you pay?
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