In most cases, payments on student loans are deferred until the borrower graduates, although interest does get added to the principal while the student is in school. If Jaime takes out a student loan for $35,000 in 2012 at 4.1% simple interest and graduates in 4 years, find the monthly payment that would be
required when he graduates if he plans to pay off the loan in 11 years after graduation. Round the answer to the nearest cent.
The monthly payment for Jaime's student loan after he graduates is
X
5

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

none of the above.

for one of the equations to be used in the process, there has to be a term in the equation since squared is .

since there is only a term in the first equation, we cannot derive a from completing the square.

solving with completing the square

nope.   happens to me as well.

-aparri