Suppose you have the following three student loans: $11,000 with an APR of 6.5% for 17...
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Suppose you have the following three student loans: $11,000 with an APR of 6.5% for 17 years, $18,000 with an APR of 7% for 22 years, and $14,500 with an APR of 8% for 12 years. a. Calculate the monthly payment for each loan individually. b. Calculate the total you'll pay in payments during the life of all three loans. C. A bank offers to consolidate your three loans into a single loan with an APR of 7% and a loan term of 22 years. What will your monthly payments be in that case? What will your total payments be over the 22 years? Suppose you have the following three student loans: $11,000 with an APR of 6.5% for 17 years, $18,000 with an APR of 7% for 22 years, and $14,500 with an APR of 8% for 12 years. a. Calculate the monthly payment for each loan individually. b. Calculate the total you'll pay in payments during the life of all three loans. C. A bank offers to consolidate your three loans into a single loan with an APR of 7% and a loan term of 22 years. What will your monthly payments be in that case? What will your total payments be over the 22 years? Suppose you have the following three student loans: $11,000 with an APR of 6.5% for 17 years, $18,000 with an APR of 7% for 22 years, and $14,500 with an APR of 8% for 12 years. a. Calculate the monthly payment for each loan individually. b. Calculate the total you'll pay in payments during the life of all three loans. C. A bank offers to consolidate your three loans into a single loan with an APR of 7% and a loan term of 22 years. What will your monthly payments be in that case? What will your total payments be over the 22 years?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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