eives a series of four annual federally subsidized student loans,$5600 each for at 6.6%. To defray rising costs for her senior year, 3 years after acquiring the first loan she takes out a private student loan for $ 4100 at7.3% interest with a term of 10 years and capitalizes the interest for her last year of college. She graduates 9 months after getting the private loan. Payments on all loans are deferred until 6 months after graduation. Find her monthly payment. a.Find the monthly payment on the federally subsidized loans. Round your answer to two decimal places, if necessary. b. Find the monthly payment on the private loan. Round your answer to two decimal places, if necessary. c.Find the total mon

Yumi's grandparents presented her with a gift of $21,000 when she was 8 years old to be used for her college education. Over the next 9 years, until she turned 17, Yumi's parents had invested her money in a tax-free account that had yielded interest at the rate of 3.5%/year compounded monthly. Upon turning 17, Yumi now plans to withdraw her funds in equal annual installments over the next 4 years, starting at age 18. If the college fund is expected to earn interest at the rate of 4%/year, compounded annually, what will be the size of each installment? (Assume no interest is accrued from the point she turns 17 until she makes the first withdrawal. Round your answer to the nearest cent.)

When Kaitlin had 2 years left in college, she took out a student loan for $12,295. The loan has an annual interest rate of 5.7%. Kaitlin graduated 2 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Kaitlin will make monthly payments for 5 years after graduation. During the 2 years she was in school and not making payments, the loan accrued simple interest. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial hirmules (a) If Kaitlin's loan is subsidized, find her monthly payment. Subsidized loan monthly payment: $|| (b) If Kaitlin's loan is unsubsidized, find her monthly payment. Unsubsidized loan monthly payment: $[]

While Kate was a student at SA University, she borrowed $16,000 in student loan at an annual interest rate of 10%. If she repays $3,000 per year, calculate the period required (to the nearest year) to pay off her debt

Lily signed a personal loan for $7,500 with Joanne, her aunt, to pay her MBA tuition fees during the first year of her study. In the agreement, Lily promised to pay Joanne the principal plus 3.8% interest on this loan to compensate Joanne against the expected inflation on overall groceries and other costs Joanne has to cover per year based on the average rate of inflation observed in Canada since 1960 to 2021. Lily will start to make the first payment upon her graduation. a) Calculate the amount of annual interest for this loan. b) Calculate the amount of interest Lily saves if she pays back the loan six months upon graduating her MBA.

Angelica received a 12 year non-subsidized student loan of $12,000 at an annual interest rate of 5.6% (compounded monthly). Determine her monthly payment on the loan after she graduates in 4 years. round your answer to the nearest cent.

Britta has been accepted into a 2-year Medical Assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the option of beginning repayment of the loan in 2.5 years. She also knows that during this non-payment time, interest will accrue at 4.29%. Britta made her last monthly interest-only payment on May 5. Her next payment is due on June 5. What will be the amount of that interest-only payment? Round your answer to the nearest cent. *

George and Peggy Fulwider bought a house from Sally Sinclair for $225,500. In lieu of a 10% down payment, Ms. Sinclair accepted 5% down at the time of the sale and a promissory note from the Fulwiders for the remaining 5%, due in four years. The Fulwiders also agreed to make monthly interest payments to Ms. Sinclair at 10% interest until the note expires. The Fulwiders obtained a loan from their bank for the remaining 90% of the purchase price. The bank in turn paid the sellers the remaining 90% of the purchase price, less a sales commission of 6% of the purchase price, paid to the sellers' and the buyers' real estate agents. (d) Find the Fulwiders' monthly interest-only payment to Ms. Sinclair. (Round your answer to the nearest cent.)$ (e) Find Ms. Sinclair's total income from all aspects of the down payment (including the down payment, the amount borrowed under the promissory note, and the monthly payments required by the promissory note).$ (f) Find Ms. Sinclair's net income from the…

a mother earned $15000.00 from royalties on her cookbook. She set aside 20% of this for a down payment for a new home. The balance will be used for her son's future education. She invested a portion of the money in a bank certificate of a deposit (cd account) that earns 4% and the remainder in a savings bond that earns 7%. IF the total interest earned after one year is $720.00, how much money was invested at each rate?

When she was 6 years old, Jane’s parents set up an annuity for her college education, with the first payment deferred for 12 years until she reached the age of 18. The annuity, rated at 6%, compounded semi-annually, will pay $8,000 at the end of every 6 months for the 4 year period of her college education.  a) Find the number of payment periods (N) Find the number of deferment periods (k) c) Find the Present Value of this annuity, i.e., what lump sum payment must Jane’s parents invest (at t = 0 ) to start the account [Find A(N,k)]