You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay off the loan in 7 years. What will your monthly payments be? $ How much interest do you pay?
You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay off the loan in 7 years. What will your monthly payments be? $ How much interest do you pay?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay off the loan in 7 years.
What will your monthly payments be?
$
How much interest do you pay?
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