Bill has two student loans on which payments begin in 1 month. The first has payments of 100 per month for 120 months at a nominal annual rate of 5% compounded monthly. The second has payments of 200 per month for 60 months at a nominal annual rate of 8% compounded monthly. After the payment at the end of month 30, Bill will have the option to consolidate the loans and continue to make payments of 300 for 50 more months. Required:
If he takes this option, what is his nominal annual yield compounded monthly for the entire arrangement?

Clara client has just been presented with a standard representation agreement by the law firm of yatz & berger. clara's first language is german. although she speaks and reads everyday english quite well, the legal terms in the contract confuse her. yatz & berger should question 90 options: have someone in the firm, if possible, or a translator from outside of the firm, explain the terms of the contract thoroughly until clara has a full and complete understanding of its terms. advise clara to take the contract home and study it before signing it. have a paralegal explain the most important clauses in the contract to clara in smaller, plain english words. advise clara to sign the contract and take her copy home for study.