Homework Answers
rate positively ..
| We have to use financial calculator to solve this | ||||
| put in calculator - | ||||
| FV | 31870 | |||
| PV | 0 | |||
| I | 5.45%/12 | 0.4542% | ||
| N | 4*12 | 48 | ||
| compute PMT | ($595.71) | |||
| therefore answer = | $595.71 | |||
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please help Questions: Suppose that you plan to borrow $20,000 student loans to attend UM-Dearbom. You...
please help
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please help
Questions: Suppose that you plan to borrow $20,000 student loans to attend UM-Dearbom. You are considering borrowing the loan from SallicMac. Sallic Mac offers two options for the repayment of your loan. One is the deferred repayment option and the other is interest repayment option. The APR for the deferred repayment option is 5.75% and the APR for the interest repayment option is 4.75%. You plan to finish your undergraduate study in UM-Dearbom within four years. The two...
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