Question

The following 10 questions will be in relation to the information below:

Maria was approved for a 10-year, Federal Unsubsidized student loan in the amount of $17,700 at a rate of 3.9%. Loan repayment will begin after 4.5 years.

1. How much interest will Maria accrue during the 4.5-year non-payment period (while she is in shool)?

3106.35

3031.29

31063.50

3242.16

Answer 1

is it simple interest or compound interest

Answer 2

simple

Answer 3

@snowflake0531

Answer 4

oh, kay

Answer 5

welll, to find the interest of one year, you would multiply the principle amount, 17,700, by the interest, 0.039, because of the percent symbol, that would be 690.3, from a calculator. But because it's for 4.5 years, and it's simple interest, you can multiply the amount of interest of one year by 4.5, which is 3106.35 dollars

Answer 6

your literally a life saver can I ask you another?

Answer 7

@snowflake0531

Answer 8

i guess, lol

Answer 9

Maria was approved for a 10-year, Federal Unsubsidized student loan in the amount of $17,700 at a rate of 3.9%. Loan repayment will begin after 4.5 years.

2. What will the new principal be when she begins making loan payments? @snowflake0531

Answer 10

add 17700 to 3106.35

Answer 11

I put question 2 instead of 3 my bad the question for that was What will be her monthly payment amount if she does not pay any interest during her time in school?

Answer 12

@snowflake0531