raduation from college, Warren Roberge was able to defer payment on his $22,000 student loan for 6 months. Since the interest will no longer be paid on his behalf, it will be added to the principal until payments begin. If the interest is 3.5 , what will the principal amount be when he must begin repaying his loan? ncipal amount will be $. round until the final answer. Then round to the nearest cent as needed.)

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Upon graduation from college, Warren Roberge was able to defer payment on his $22,000 student loan for 6 months. Since the interest will no longer be paid on his behalf, it will be added to the principal until payments begin. If the interest is 3.57% compounded
monthly, what will the principal amount be when he must begin repaying his loan?
The principal amount will be $
(Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:Upon graduation from college, Warren Roberge was able to defer payment on his $22,000 student loan for 6 months. Since the interest will no longer be paid on his behalf, it will be added to the principal until payments begin. If the interest is 3.57% compounded monthly, what will the principal amount be when he must begin repaying his loan? The principal amount will be $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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