Suppose that you have just graduated with $30,000 in student loan debt, at 9% annual interest, compounded monthly. You must make a payment at the end of each month, and willbe finished paying off the loan at the end of 10 years. a. How much is each payment?
b. How much money, in total, will you end up paying by the time you have paid off the loan?
c. How much of what you will end up paying is interest?
d. [Just to think about, not to hand in: How painful is the answer to part c of this question?]

Step-by-step explanation:

Principal amount = 30,000

I = 9% is compounded monthly ⇒ 0.09/12 = 0.0075

n= 10 years ⇒ 10* 12 = 120 periods

Formula for decreasing annuity payments is R =[ I/[1 - (1+I)^(-n)]] * P

R = 0.0075/[1 -  1.0075^(-120)] * 30,000 = $380, amount of each payment

Total amount paid is = 380*12*10 = 45600

Interest paid = Total amount - loan amount = 45600 - 30000 = 15600

think about the doctor who treated the major and the speaker in the short story "in another country." put yourself in the shoes of the doctor, and based on what you read in the story, write what you think his thoughts about the major and the speaker would be. use the following vocabulary in your response and change the form of these words as needed: detached resign withered

too hard the other guy did it

step-by-step explanation: