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26-09-2022
Mathematics

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Britta has been accepted into a 2-year medical assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the option of beginning repayment of the loan in 2.5 years. She also knows that during this nonpayment time, interest will accrue at 4.29%. If Britta decides to make no payments during the 2.5 years, the interest will be capitalized at the end of that perlod. What will the new principal be when she begins making loan payments?

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