1. Ingrid will start college next year. She wasapproved for 10-year unsubsidized Federal Loanfor the amount of $15,000 at 4.29%a) How much interest will Ingrid accrue for 4.5 years nonpayment period?Hence the interest Ingrid will accrued for 4.5 years non-payment period is $3,602.91b) What will the new principal be when she begins making loan payments?$18,602.91c) How much interest will she pay over the life of the loan? $9,201.712. Suppose Ingrid only paid the interest during her 4 years of school and the six-month grace period.What will she now pay in interest over the term of the loan?3. Ingrid made her last monthly interest only payment on September 1 Her next payment is due on October 1. What will be the amount of interest only payment?4. Suppose Ingrid has decided to apply for a privateloan rather then a federal loan. She has beenapproved for a 10 year loan with APR of 7.8%a) What is her monthly payments?b) What is the total amount she will pay back?c) What is total interest amount?