Question: Question 2 help, Question 1 leads to Question 2: 1. Assume you borrow 10, 000.00 per year for four years of college. If the interest

Question 2 help, Question 1 leads to Question 2:

1. Assume you borrow 10, 000.00 per year for four years of college. If the interest is deferred and compounded annually at 7 percent, how much will you owe at the end of 4 years when you graduate?

Answer = $47,507.39

2. Using the information form above, if the loans continue to charge 7% compounded annually and you make 3,600.00 annual payments (300.00 a month) how long will it take to pay off your student loans?

Thanks!

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