You will be in graduate school for the next two years. You borrowed some money from the bank for your graduate education, which the bank has accepted to be paid after you graduate from school in three years. The bank has accepted to the following payment plan: from the beginning of Year 3 (25th month) to end of year 5 (60th month), pay $950 per month 25 and increase payment by 2% every month thereafter. How much money should you put aside each month (equal amount) for the first 24 months (during graduate school) such that you can pay the loan back after graduation? Use an APR of 12%, compounded monthly. Question 7 Part E: Provide a statement to your answers to Parts C and D. O I will need to set aside $_PartD per month at 12% compounded monthly to pay this amount off. O The total value of the repayment plan is $ PartC and I will need to set aside $_PartD per month to pay this amount off. O The total value of the repayment plan is $ PartC_and will need to set aside $_PartD per month at 12% compounded monthly to pay this amount off. O The total value of the repayment plan is $ PartC_ at 12% compounded monthly. Question 7 Part D: You will be in graduate school for the next two years. You borrowed money from the bank for your graduate education, which the bank accepted to be paid after you graduate from school in three years. The bank has accepted to the following payment plan: from the beg of Year 3 (25th month) to end of year 5 (60th month), pay $950 per 25 and increase payment by 2% every month thereafter.

Stafford loans are the most popular form of student loan in the United States. The current interest rate on a Stafford loan is 4.34​% per year. If you borrow ​$29,000 to help pay for your college education at the beginning of your freshman​ year, how much will you have to pay at the end of your​ freshman, sophomore,​ junior, and senior years for this​ loan? This is a total of four years over which the original loan will be repaid. The annual loan payment will be ______

Assume that you will have a 10-year, $10,000 loan to repay when you graduate from college next month. The loan, plus 8 percent annual interest on the unpaid balance, is to be repaid in 10 annual installments of $1,490 each, beginning one year after you graduate. You have accepted a wellpaying job and are considering an early settlement of the entire unpaid balance in just three years (immediately after making the third annual payment of $1,490). Prepare an amortization schedule showing how much money you will need to save to pay the entire unpaid balance of your loan three years after your graduation. (Round amounts to the nearest dollar.)

You have just completed your four-year degree at Southwest Minnesota State University (SMSU)!  Your student loans that you have accumulated while studying at SMSU total $25,000.  Since you have graduated, you must now begin repaying these student loans.  The loan’s annual interest rate is six percent (6%) and it requires four equal end-of-year payments.    a) Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. B) What is the total amount that you will repay over this four-year period (principal + interest)? c) What portion or percentage are the total “Interest Payments” of the initial loan value of $25,000?

Tuition of $1219 will be due when the spring term begins in 3 months. What amount should a student deposit today, at 6.47%, to have enough to pay the tuition? The student should deposit $ (Simplify your answer. Round to the nearest dollar as needed.)

A chiropractic student receives a 10-year PLUS Loan for $50,000 to complete the last 2 years of the program. If the interest rate of the loan is 5.48% and the student begins repaying the loan 2 years after graduation, what will the student's monthly payments be (in dollars)? (Assume the loan has a deferred payment plan. Round your answer to the nearest cent.)