Julie took out a unsubsidized loan for $7500 at 5.62% rate. The loan is for 10 years and she was granted a 4.5 year nonpayment period. During this nonpayment period she accumulates interest. After this period is over she will pay $81.84 monthly. What is the total she will pay by the time her loan is paid in full?

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for

step-by-step explanation:

we can analyze the pattern at which the terms increase. let us denote , , , so that we can call

note the following:

the pattern: to get the next term value, we just add the next term number (e.g. 1st, 2nd, to the previous term value (term values are the given numbers in the question, 1, 3, 6, 10, 15,

from , to get to , we add

from , to get to , we add

etc.

we need to form a recursive formula, a formula that has the next term as a function of the previous term. so a possible recursive formula can be

, and for

b, i believe, but not sure.