Mathematics, 05.11.2021 19:10 karnun1201
If Rich decides to make no payments during the 4.5 years, the interest will be
capitalized at the end of that period.
a. What will the new principal be when he begins making loan payments?
b. How much interest will he pay over the life of the loan?
Suppose that Rich had decided to apply for a private loan rather than a federal
loan. He is considering a 10-year loan with an interest rate of 5.9%.
a. Determine his monthly payment.
b. What is the total amount he will pay back?
c. What is the total interest amount?
Answers: 3
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If Rich decides to make no payments during the 4.5 years, the interest will be
capitalized at the...
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