Question

Ichiro took out a subsidized student loan of $13,000 at a 3.6% APR

Answer 1

Answer:

The amount of money he owes when he begins making payments:

A = 13000 x ( 1 + rate/12)^month

  = 13000 x (1 + (3.6/100)/12)^15

  = 13597.45 dollar

Hope this helps!

:)