Lois received a 9 year subsidized student loan of $38,000 at an annual interest rate of 3.125%. Determine her monthly payment on the loan after she graduates in three years. Round your answer to the nearest cent.
Lois received a 9 year subsidized student loan of $38,000 at an annual interest rate of 3.125%. Determine her monthly payment on the loan after she graduates in three years. Round your answer to the nearest cent.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Lois received a 9 year subsidized student loan of $38,000 at an annual interest rate of 3.125%. Determine her monthly payment on the loan after she graduates in three years. Round your answer to the nearest cent.
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