Solve the problem.Student loan.   A college student borrowed $4000 at 8% compounded annual...

Solve the problem.

Student loan.   A college student borrowed $4000 at 8% compounded annually in her freshman year and did not have to make payments until 4 years later. Use the accompanying graph to estimate the amount that she owes at the time the payments start. Use the expression P(1 + r)n to find the actual amount of the debt at the time the payments start.

Figure for Exercise 107