Theodora received an 8 year PLUS Loan of $17, 000 to attend law school for her last 2 years. If the current interest rate is 8.62% and she starts her repayments 1 year after graduation, what are her monthly payments (in dollars)? (See Example 5 in this section. Assume the loan has a deferred payment plan.
Theodora received an 8 year PLUS Loan of $17, 000 to attend law school for her last 2 years. If the current interest rate is 8.62% and she starts her repayments 1 year after graduation, what are her monthly payments (in dollars)? (See Example 5 in this section. Assume the loan has a deferred payment plan.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Theodora received an 8 year PLUS Loan of $17, 000 to attend law school for her last 2 years. If the current interest rate is 8.62% and she starts her repayments 1 year after graduation, what are her monthly payments (in dollars)? (See Example 5 in this section. Assume the loan has a deferred payment plan.
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