Suppose that your unsubsidized Stafford loans plus accumulated interest total $35000 at the time you start repayment, the interest rate is 9%APR, and you elect the standard repayment plan of a fixed amount each month for 10 years. What is your montly repayment?

Suppose that your unsubsidized Stafford loans plus accumulated interest total $35000 at the time you start repayment, the interest rate is 9%APR, and you elect the standard repayment plan of a fixed amount each month for 10 years. What is your montly repayment?

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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