Mathematics, 05.05.2021 17:40 Geo777
Assume Jane got a loan for the full amount from Step 6, from part 1 on day 1 of college. Jane used an
unsubsidized loan to finance her education and made no payments while she was in school. She secured a
loan at 6% APR compounded monthly. Since unsubsidized loans accrue interest while in forbearance, how
much will she owe when she starts making payments in 4 years, when she finishes college?
1) What interest/growth formula will you use?
2) Identify all variables:
P =
r =
n =
t =
3) fill in your formula from step 1 with your values in step (2):_
4) how much will she owe in 4 years, when she graduates and starts making payments? use your equation from step (3). round to the nearest cent.
Assume Jane had, instead, secured a loan for 5.75% APR compounded continuously while she was in
college. How much would she owe at the end of college if this were true?
5) What interest/growth formula will you use?
6) Identify all variables:
P =
r =
t =
7) Fill in your formula from step (5) with your values from step (2):
8) How much will she owe in 4 years, when she graduates and starts making payments? Use your
equation from step (7). Round to the nearest cent.
9) Which loan would result in lower interest accrued while Jane is in school?
a. 6% compounded monthly
b. 5.75% compounded continuously
From this point forward, use your interest terms and loan balance from either step (4) or step (8),
depending on which loan terms you determined would result in less interest charges for Jane.
If Jane plans to pay off her loan over the course of 10 years, from the day she graduates, using the loan terms and
balance from step (9), how much will Jane actually be paying for her college education?
10)
11)After college, Jane plans to be a computer programming teacher. According to this website, the
estimated, average annual salary for this job is $59,980.
Over the span of the 10 years she’ll be paying off principal and interest, how much money will be
left of her yearly salary?
Answers: 1
Mathematics, 21.06.2019 16:40
Ajar contains a mixture of 20 black marbles, 16 red marbles, and 4 white marbles, all the same size. find the probability of drawing a white or red marble on the first draw. 125 12 01 next question ask for turn it in
Answers: 2
Mathematics, 21.06.2019 17:30
The table shows the balance of a money market account over time. write a function that represents the balance y(in dollars) after t years.
Answers: 2
Mathematics, 21.06.2019 19:30
Ascientist wants to use a model to present the results of his detailed scientific investigation. why would a model be useful? a )because the model makes the concepts easier to understand b) because the model is easy to put together and to use c) because the model prevents other scientists from asking questions d) because the model requires the audience to pay full attention to it i don't know what to choose because between a and d a is much more likely than d because it only wants to get the attention of the audience. i'm confuse.
Answers: 1
Mathematics, 21.06.2019 23:00
Is a square always, sometimes, or never a parallelogram
Answers: 2
Assume Jane got a loan for the full amount from Step 6, from part 1 on day 1 of college. Jane used a...
History, 08.02.2021 04:20
Mathematics, 08.02.2021 04:20
Social Studies, 08.02.2021 04:20
Mathematics, 08.02.2021 04:20
History, 08.02.2021 04:20
History, 08.02.2021 04:20
Mathematics, 08.02.2021 04:20
Social Studies, 08.02.2021 04:30
Computers and Technology, 08.02.2021 04:30
Arts, 08.02.2021 04:30
Physics, 08.02.2021 04:30