Mathematics, 11.03.2021 16:30 nocomprendoplshelp
PLEASE HELL 30 POINTSSS!
Elijah is attending a 4-year college. As a freshman, he was approved for a 6-year, federal unsubsidized student loan in the amount of $13000 at 3.33%. He knows he has the option of beginning repayment of the loan in 4.5 years. He also knows that during this non-payment time, interest will accrue at 3.33%. Suppose Elijah paid the request interest during his 4 years in school and the six-month grace period.
How much interest did he pay during his 4 years in school and the six-month grace period?
Will the federal government recalculate his loan?
Determine his monthly payment for the 6-year loan.
What is the total amount of his monthly payments?
What will he pay in interest over the term of his loan?
If his total interest is the sum of the interest from the 4.5-year nonpayment period and the interest from the 6-year loan life, how much interest will he pay as a total?
Answers: 2
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PLEASE HELL 30 POINTSSS!
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