Pat receives a series of four annual federally subsidized student loans, each for $5500 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 $3500 at 7.6% 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.
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Pat receives a series of four annual federally subsidized student loans, each for
at
. To defray rising costs for her senior year,
years after acquiring the first loan she takes out a private student loan for
at
interest with a term of
years and capitalizes the interest for her last year of college. She graduates
months after getting the private loan. Payments on all loans are deferred until
months after graduation. Find her monthly payment.
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- Carlos opens a dry cleaning store during the year. He invests 30,000 of his own money and borrows 60,000 from a local bank. He uses 40,000 of the loan to buy a building and the remaining 20,000 for equipment. During the first year, the store has a loss of 24,000. How much of the loss can Carlos deduct if the loan from the bank is nonrecourse? How much does Carlos have at risk at the end of the first year?Pat receives a series of four annual federally subsidized student loans, each for $5800 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 $4300 at 7.2% 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 the answer to two decimal places,if necessary. B) Find the monthly payment on the private loan? C) Find the total monthly payment for all loans(both accounts)Pat receives a series of four annual federally subsidized student loans, each for $5800 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 $4300 at 7.2% 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. Part: 0 / 3 0 of 3 Parts Complete Part 1 of 3 (a) Find the monthly payment on the federally subsidized loans. Round your answer to two decimal places, if necessary. The monthly payment on the federally subsidized loans is $ . (b) Find the monthly payment on the private loan. (c) Find the total monthly payment for all loans.
- Pat receives a series of four annual federally subsidized student loans, each for $5100 at 6.9%. To defray rising costs for her senior year, 3 years after acquiring the first loan she takes out a private student loan for $3800 at 7.7% 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. Part: 0/3Pat receives 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 monthly payment on all loans. Round your answer to two decimal places, if necessary.Huai takes out a $3100 student loan at 6.7% to help him with 2 years of community college. After finishing the 2 years, he transfers to a state university and borrows another $12,800 to defray expenses for the 5 semesters he needs to graduate. He graduates 4 years and 4 months after acquiring the first loan and payments are deferred for 3 months after graduation. The second loan was acquired 2 years after the first and had an interest rate of 7.7% . Find the total amount of interest that will accrue until payments begin. Part: 0 / 3 0 of 3 Parts Complete Part 1 of 3 (a) Find the total amount of interest that will accrue for loan 1 (community college). The total amount of interest that will accrue for loan 1 (community college) is $ . Round your answer to two decimal places, if necessary. pt 2- find the total amount of interest accured on loan 2? pt 3- find the total amount of interst that will accure…
- Huai takes out a $3700 student loan at 6.7% to help him with 2 years of community college. After finishing the 2 years, he transfers to a state university and borrows another $11,900 to defray expenses for the 5 semesters he needs to graduate. He graduates 4 years and 4 months after acquiring the first loan and payments are deferred for 3 months after graduation. The second loan was acquired 2 years after the first and has an interest rate of 7.1% . Find Huai's monthly payment when regular payments begin. Part: 0 / 3 0 of 3 Parts Complete Part 1 of 3 (a) Calculate the monthly payment on loan 1 (community college). Round your answer to two decimal places, if necessary. The monthly payment on loan 1 (community college) is $ . pt 2- find the total amont of interest accured on loan 2? pt 3- find the total amount of interest that wil accure?Huai takes out a $3300 student loan at 6.6% to help him with 2 years of community college. After finishing the 2 years, he transfers to a state university and borrows another $12,900 to defray expenses for the 5 semesters he needs to graduate. He graduates 4 years and 4 months after acquiring the first loan and payments are deferred for 3 months after graduation. The second loan was acquired 2 years after the first and had an interest rate of 7.1%. Find the total amount of interest that will accrue until payments begin. Part 1 of 3 (a) Find the total amount of interest that will accrue for loan 1 (community college). The total amount of interest that will accrue for loan 1 (community college) is $983.89 Part: 1/3 Part 2 of 3 (b) Find the total amount of interest that will accrue for loan 2 (state university). 5 The total amount of interest that will accrue for loan 2 (state university) is $. Round your answer to two decimal places, if necessary. XHuai takes out a $3500 student loan at 6.7% to help him with 2 years of community college. After finishing the 2 years, he transfers to a state university and borrows another $12,500 to defray expenses for the 5 semesters he needs to graduate. He graduates 4 years and 4 months after acquiring the first loan and payments are deferred for 3 months after graduation. The second loan was acquired 2 years after the first and had an interest rate of 7.3% . Find the total amount of interest that will accrue until payments begin.
- Demitri's parents begin saving for his college fund when Demetri is 10 years old. They invest $5,000 in a CD that earns 1.2% interest compounded annually. When Demitri turns 18, he decides to attend a local community college for two years. One year of courses costs approximately $2,700. Is there enough money available from the CD to pay for the first two years of Demetri's college education? *A local firm sponsors a student loan program for the children of employees.No interest is charged until graduation, and then the interest rate is 5%. Maria borrows $9000 per year, and she graduates after 4 years. Since tuition must be paid ahead of time, assume that she borrows the money at the start of each year. If Maria makes five equal annual payments, what is each payment? Use the cash flow from when she started borrowing the money to when it is all paid back, and then calculate the internal rate of return for Maria’s loan. Is this arrangement attractive to Maria?This fall Millie finally repaid her student loan. She originally borrowed the money to pay tuition several years ago when she attended at State University (a qualified educational institution). This year Millie paid a total of $2,400 of interest on the loan. If Millie files single and reports $80,000 of income and no other items of income or expense how much of the interest can she deduct? Millie can deduct $2,400 for AGI. O Millie can deduct $1,600 for AGI. Millie can deduct $2,400 as an itemized deduction. O Millie can deduct $800 for AGI. None- the tuition is not deductible.