Suppose you borrowed $50,000 on a student loan at a rate of 8% and must repay it
Fantastic news! We've Found the answer you've been seeking!
Question:
Suppose you borrowed $50,000 on a student loan at a rate of 8% and must repay it in three equal installments at the end of each of the next 3 years. How large would your payments be; how much of the first payment would represent interest, how much would be principal; and what would your ending balance be after the first year?
Posted Date: