lrfunnymonkey lrfunnymonkey

08-10-2022
Mathematics

Answered

Jim's parents paid for the first three years of his college costs. When
he was a college senior, he was approved for an unsubsidized loan in the
amount of $15,200 at a 4.29% interest rate for 10 years.
a. If he chooses to make interest-only payments until the monthly loan
payments are due, for how long will he be making interest only
payments?

Answer :

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