Maribel was approved for a 7-year private student loan at 6.8% to cover her college costs of
Question:
Maribel was approved for a 7-year private student loan at 6.8% to cover her college costs of $10,900.
a. Determine her monthly payment. Round to the nearest cent.
b. What is the total amount she will pay back?
c. What is the total interest amount?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
The total interest amount the total amount to be pa...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
Question Posted:
Students also viewed these Mathematics questions
-
What is the total amount removed from Joshua's estate in 2014?
-
What is the total amount of estate removed from Barry and Mary's estate?
-
What is the total amount Bae will have to repay for his $25,000 student loan if the interest rate is 6 percent over 10 years? What is the total amount he would have to repay if the $25,000 was a...
-
When a company's bookkeeper started to prepare the monthly bank reconciliation, the cash account showed a balance of P528.600. At the end of the month, the following information was available from...
-
What were the first cash-settled futures contracts and are they still trading today?
-
A particular process puts a coating on a piece of glass so that it is sensitive to touch. Randomly throughout the day, pieces of glass are selected from the production line and the resistance is...
-
Use the magnitudes (Richter scale) of the earthquakes listed in Data Set 16 in Appendix B. In 1989, the San Francisco Bay Area was struck with an earthquake that measured 7.0 on the Richter scale....
-
Nabb & Fry Co. reports net income of $31,000. Interest allowances are Nabb $7,000 and Fry $5,000; salary allowances are Nabb $15,000 and Fry $10,000; the remainder is shared equally. Show the...
-
1. A portfolio is diversified into three assets Ai (i = 1, 2, 3), two of which are risk-free (assets A and A2) and one risky (A3). The risk-free assets do not correlate with each other but they have...
-
The following tables show the domestic supply and demand schedules for bushels of flaxseed (used as an edible oil and a nutrition supplement) in the United States and Kazakhstan, with prices measured...
-
Jordan is taking out a 2-week payday loan for $600. He will be charged $95 interest for the 2-week loan. What is the APR for this loan?
-
Ari purchased a microwave oven on an installment plan for m dollars. He made a 20% down payment and agreed to pay x dollars per month for two years. Express the finance charge (interest)...
-
a. Show that x 2 + y 2 10x 8y + 32 = 0 can be written in the form (x a) 2 + (y b) 2 = r 2 , where a, b and r are numbers to be found. b. Circle C has equation x 2 + y 2 10x 8y + 32 = 0 and...
-
Purpose: (We would like you to conduct field research talking to various consumers about how IKEA can do better to be a leading omnichannel retailer and trusted brand in Korea?) Could you please...
-
A 9.0 V potential difference is applied between the ends of a 0.60-mm-diameter, 75-cm-long nichrome wire. For the steps and strategies involved in solving a similar problem, you may view a Video...
-
Lockheed Martin's accounts receivable in the 2023 financial statement include billed and unbilled costs and accrued profit primarily related to sales and long-term contracts recognized in financial...
-
er the last 60 years, the frozen food market has boomed. In 2012, sales were $44 billion (about $140 per person in the US), about 44 times what they were in the mid-1950s. Increased labor force...
-
A t-shirt is launched at an angle of 63.6 at 25.8 m/s. The shirt is launched at a person in the stands a horizontal distance of 30.6 m away and 27.7 m above the ground. How many meters will the...
-
Junk bonds reported strong returns in 2009. The population of junk bonds earned a mean return of 57.5% in 2009. (Data extracted from The Wall Street Journal, January 4, 2010, p. R1.) Assume that the...
-
If |62x|>9, which of the following is a possible value of x? A. 2 B. 1 C. 0 D. 4 E. 7
-
A local cable TV/Internet/phone provider charges new customers $90 for all three services, per month, for the first year under their 90 NOW promotion. Alice normally pays $59 for her monthly home...
-
Kalani has these monthly liabilities: rent $879, car payment $315, credit card payment $102. She has an annual income of $96,448. What is her debt-to-income ratio, expressed as a percent?
-
Leonard works as a waiter in an upscale city restaurant. He makes a very good salary plus tips. His monthly income varies based upon the nights he works. His quarterly dividend checks and interest...
-
The two step theory would predict that the strategy of the Democrats will increase the chances that more moderate Republicans will win their primaries. This will lead to more moderate Republicans...
-
Assume function arguments are provided in x10 and x11 respectively. 1. Write a RISC-V function called swap that swaps two values in memory. Your swap function will take in two memory addresses. The...
-
USING YOUR OWN COMPANY OR CHOICE COMPANY 1. DICUSS ANY THREE FORMS OF MAINTENANCE. 2. GIVE A DETAILED ACCOUNT ON HOW IT IS DONE 3. CONTRAST WITH TOTAL PRODUCTIVITY MAINTENCE THEORY
Study smarter with the SolutionInn App