1. Pat receives a series of four annual federally subsidized student loans, each for $570 at 6.8%. To defray rising costs for her senior year, 3 years after acquiring the first loan she takes out a private student loan for $3900 at 7.7% interest with a term of 10 years and capitalizes the interest for her last year of college. She graduates 9 months after getting the private loan. Payments on all loans are deferred until 6 months after graduation. 
2. 
   
3. Find her monthly payment. 
4. 
   
5. (a) find the monthly payment of the federally subsidized loans. Round your answer to two decimal places if necessary. The monthly payment on the federally subsidized loan is $ 
6. 
   
7. (b) find the monthly payment on the private loan. 
8. 
   
9. (c ) Find the total monthly payment for overall loans.

Answer rating: 100% (QA)

a The monthly payment on the ... View the full answer