How did you decide on the length of your loan? Explain why you chose your loan amount,
Question:
How did you decide on the length of your loan? Explain why you chose your loan amount, interest rate, down payment percentage, etc. Provide citations for all researched items. Do NOT just make them up. [For student loans only] Is your student loan subsidized or not (and what does that mean)?
Discuss how much your monthly loan payment would be and whether it is an affordable payment. Was the length of your loan an important factor in your decision? How much total interest will you pay over the life of the loan? Discuss how this might affect your decision making in the future. As an LPN at a plasma center who makes $52,650 annuallyhow will this be broken down and put into action? Please included an introduction and conclusion.
Subsidized Student Loan | ||
Interest deferred during college | ||
Subsidized Student Loan Information | ||
Total Amount of Subsidized Loans, P0: | $10,500.00 | |
Loan Rate, r (decimal): | 0.055 | |
Length of Loan Repayment after Graduation, N (years): | 10 | |
Subsidized Student Loan Calculator | ||
Monthly Loan Payment | Total Interest Paid | Total Amount Paid (Loan plus Interest) |
$113.95 | $3,174.31 | $13,674.31 |
Unsubsidized Student Loan | |||
Interest accrued during college | |||
Total $2,867 | |||
Unsubsidized Student Loan Information | |||
Loan Rate, r (decimal): | 0.0705 | ||
Length of Loan Repayment after Graduation, N(years): | 10 | ||
Unsubsidized Student Loan Calculator | |||
Monthly Loan Payment | Total Interest Paid | Total Amount Paid (Loan plus Interest) | |
$41.19 | $2,076.34 | $4,943.34 |