A student decides to borrow $1,500,000 at 3.25% per year to cover all the medical school...
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A student decides to borrow $1,500,000 at 3.25% per year to cover all the medical school expenses. He decides to pay the principle and interest as one lump sum after 10 years, which includes 4 years of medical school, 2 years of residency, 1 year of fellowship, and 3 years of medical practice. Exactly how much will be the total payment? A student decides to borrow $1,500,000 at 3.25% per year to cover all the medical school expenses. He decides to pay the principle and interest as one lump sum after 10 years, which includes 4 years of medical school, 2 years of residency, 1 year of fellowship, and 3 years of medical practice. Exactly how much will be the total payment?
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To calculate the total payment the student needs to make after 10 yearswe need to consider b... View the full answer
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date:
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