Mathematics, 10.02.2021 17:00 robin6150
Suppose that Marlie had decided to apply for a private loan rather than a federal loan. She has been offered a private
loan for 10 years with an APR of 7.8%.
1. Use the monthly loan payment
formula.
A. DETERMINE HER MONTHLY PAYMENT.
2. Find how much she will pay in
total for the loan.
(monthly payment){ # of months)
3. Subtract total paid on loan from
B. WHAT IS THE TOTAL AMOUNT SHE WILL PAY BACK?
the principal
C. WHAT IS THE TOTAL INTEREST AMOUNT?
Answers: 3
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Suppose that Marlie had decided to apply for a private loan rather than a federal loan. She has been...
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