When Maria had 5 years left in college, she took out a student loan for $16,174. The loan has an annual interest rate of 2.7%. Maria graduated 5 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Maria will make monthly payments for 10 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. If necessary, refer to the list of financial formulas. (a) If Maria's loan is subsidized, find her monthly payment. Subsidized loan monthly payment: $ (b) If Maria's loan is unsubsidized, find her monthly payment. Unsubsidized loan monthly payment: $
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- When Mary had 4 years left in college, she took out a student loan for $15,110. The loan has an annual interest rate of 5.1%. Mary graduated 4 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Mary will make monthly payments for 3 years after graduation. During the 4 years she was in school and not making payments, the loan accrued simple interest. what is the monthly payment if the loan is subsidized? What is the monthly payment if the loan is unsubsidized?When Kaitlin had 2 years left in college, she took out a student loan for $12,295. The loan has an annual interest rate of 5.7%. Kaitlin graduated 2 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Kaitlin will make monthly payments for 5 years after graduation. During the 2 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. If necessary, refer to the list of financial hirmules (a) If Kaitlin's loan is subsidized, find her monthly payment. Subsidized loan monthly payment: $|| (b) If Kaitlin's loan is unsubsidized, find her monthly payment. Unsubsidized loan monthly payment: $[]When Lisa had 5 years left in college, she took out a student loan for $13,342 . The loan has an annual interest rate of 2.7% . Lisa graduated 5 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Lisa will make monthly payments for 10 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. If necessary, refer to the list of financial formulas . (a)If Lisa's loan is subsidized, find her monthly payment. Subsidized loan monthly payment: $ (b)If Lisa's loan is unsubsidized, find her monthly payment. Unsubsidized loan monthly payment: $
- Ashley took out a student loan for $12,544. The loan had annual interest of 6.9%. She graduated five years after getting the loan and began repaying the loan upon graduation. Ashley will make monthly payments for two years after graduation. During the five years she was in school not making payments the loan occurred simple interest. What was her subsidize loan monthly payment an unsubsidized loan monthly payment?When Amy had 5 years left in college, she took out a student loan for $12,544. The loan has an annual interest rate of 6.9%. Amy graduated 5 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Amy 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. If necessary, refer to the list of financial formulas. (a) If Amy's loan is subsidized, find her monthly payment. Subsidized loan monthly payment: $|| (b) If Amy's loan is unsubsidized, find her monthly payment. Unsubsidized loan monthly payment: $ |When Isabel had 3 years left in college, she took out a student loan for $13,155. The loan has an annual interest rate of 7.2%. Isabel graduated 3 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Isabel will make monthly payments for 5 years after graduation. During the 3 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. If necessary, refer to the list of financial formulas. (a) If Isabel's loan is subsidized, find her monthly payment. Subsidized loan monthly payment: $| (b) If Isabel's loan is unsubsidized, find her monthly payment. Unsubsidized loan monthly payment: $
- When Michael had 2 years left in college, he took out a student loan for $14,505. The loan has an annual interest rate of 7.8%. Michael graduated 2 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Michael will make monthly payments for 10 years after graduation. During the 2 years he 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 Michael's loan is subsidized, find his monthly payment. Subsidized loan monthly payment: _ (b) If Michael's loan is unsubsidized, find his monthly payment. Unsubsidized loan monthly payment: __Juan is taking out an amortized loan for $98,000 to open a small business and is deciding between the offers from two lenders. He wants to know which one would be the better deal over the life of the small business loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) A bank has offered him a 10-year small business loan at an annual interest rate of 11.3%. Find the monthly payment. ? (b) A savings and loan association has offered him a 8-year small business loan at an annual interest rate of 14.2%. Find the monthly payment. $ (c) Suppose Juan pays the monthly payment each month for the full term. Which lender's small business loan would have the lowest total amount to pay off, and by how much? Bank The total amount paid would be $| less than to the savings and loan association. Savings and loan association The total amount paid would be $ less than to the…Theodora received an 8 year PLUS Loan of $17, 000 to attend law school for her last 2 years. If the current interest rate is 8.62% and she starts her repayments 1 year after graduation, what are her monthly payments (in dollars)? (See Example 5 in this section. Assume the loan has a deferred payment plan.
- When Bill had 5 years left in college, he took out a student loan for $16,482 . The loan has an annual interest rate of 3.3% . Bill graduated 5 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Bill will make monthly payments for 2 years after graduation. During the 5 years he 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. If necessary, refer to the list of financial formulas . (a)If Bill's loan is subsidized, find his monthly payment. Subsidized loan monthly payment: $ (b)If Bill's loan is unsubsidized, find his monthly payment.When Bill had 3 years left in college, he took out a student loan for $13,155. The loan has an annual interest rate of 7.2%. Bill graduated 3 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Bill will make monthly payments for 5 years after graduation. During the 3 years he 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. If necessary, refer to the list of financial formulas. (a) If Bill's loan is subsidized, find his monthly payment. Subsidized loan monthly payment: $ (b) If Bill's loan is unsubsidized, find his monthly payment. Unsubsidized loan monthly payment: $Theodora received an 8-year PLUS Loan of $17,000 to attend law school for her last 2 years. If the current interest rate is 5.32% and she starts her repayments 1 year after graduation, what are her monthly payments? (See Example 5 in this section. Assume the loan has a deferred payment plan. Round your answer to the nearest cent.)