Mathematics, 09.06.2021 22:30 allieballey0727
When Leila had years left in college, she took out a student loan for 12,196. The loan has an annual interest rate of 6.9%. Leila graduated years after acquiring the loan and began repaying the loan immediately upon graduation.
According to the terms of the loan, Leila will make monthly payments for 2 years after graduation. During the 5 years she was in school and not making payments, the loan accrued simple interest.
Answer each part. Do not round intermediate computations, and round your answers to the nearest cent.
(a)If Leila's loan is subsidized, find her monthly payment.
(b)If Leila's loan is unsubsidized, find her monthly payment.
Answers: 1
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When Leila had years left in college, she took out a student loan for 12,196. The loan has an annual...
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