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FinanceQ&A LibraryThrough government-supported programs, students may obtain "bargain" interest rates such as 6% or 8% to attend college. Frequently, payments are not due and interest does not accumulate until you stop attending college. Calculate the amount of interest due one month after you must begin payments. You have borrowed $15,000 at an annual interest rate of 6%Question

Through government-supported programs, students may obtain "bargain" interest rates such as 6% or 8% to attend college. Frequently, payments are not due and interest does not accumulate until you stop attending college. Calculate the amount of interest due one month after you must begin payments.

You have borrowed $15,000 at an annual interest rate of 6%

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