1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Usimov [2.4K]
2 years ago
7

Edgar has taken out a $6,250 unsubsidized Stafford loan to fund his four-year undergraduate degree. The loan has a duration of 1

0 years and an interest rate of 6.1%, compounded monthly. How much interest capitalization will have accrued by the time Edgar graduates? Round all dollar values to the nearest cent.
a.
$1,670.30
b.
$1,722.22
c.
$664.35
d.
$1,524.96
Mathematics
1 answer:
abruzzese [7]2 years ago
5 0
The present worth of the loan is <span>$6,250
</span>The start of payment will after 4 years
The nominal interest rate is 6.1% compounded monthly which is equal to 6.27% effective.

The future worth (after graduation) of the loan is
F = <span>$6,250 (1 + 0.0627)^4 = $7,971.18

The interest is 
</span>$7,971.18 - $6,250 = $1,721.18
I didn't round off when solving these so it's not the exact answer among the choices  but the closest is letter B <span>$1,722.22</span>
Brianna bts
2 years ago
confusing but okay
You might be interested in
I NEED HELPPPP PLEASE
denpristay [2]
Plug them in then solve from left to light
3 0
3 years ago
Read 2 more answers
Paige measured 4/9 cup of onions, 3/4 cup of celery, and 2/7 cup of carrots. How many cups of vegetables did Paige measure out f
lozanna [386]
1whole 121/252
sorry if it's wrong
3 0
3 years ago
Read 2 more answers
mrs. West took her class on a field trip to the museum cost of admission for the girls was $90 and the cost of admission for the
timofeeve [1]

Answer:

15 dollars

Step-by-step explanation:

4 0
3 years ago
What is another way to write the absolute inequality |p|&lt;12?
GaryK [48]

Answer:

-12

Step-by-step explanation:

\left|p\right|

The interval notation is (-12, 12).

-12

7 0
3 years ago
What is the answer to this problem?
Sedaia [141]

Answer:

x = 4.

Step-by-step explanation:

These are exterior  alternate angles which are congruent.

So 21x + 6 = 90

21x = 84

x = 4.

8 0
2 years ago
Other questions:
  • Help Help Help please!
    8·1 answer
  • A rectangular shape of dimension 95m by 75m is drawn to a scale of 1cm to 10cm. find the area of the drawing
    6·1 answer
  • -5.2(m+3.4)=2.6 what is the value of m?
    8·2 answers
  • HELPPPP FIRST GET BRAINLLEST Measure the difference between the lower quartile of Data Set A and the lower quartile of Data Set
    6·2 answers
  • A = 2, b = -4, c = 7, and d = -3
    12·1 answer
  • Sophie is paid by the number of projects completed each month. Her monthly earnings are listed below. Based on Sophie's
    12·1 answer
  • Find the surface area of the prism.
    12·1 answer
  • What is the daily periodic rate for a credit card with an APR of 14.99%? Leave your answer as a percent rounded to 4 decimal pla
    7·1 answer
  • The equation is y= ×
    11·1 answer
  • The midpoint of overline AB is M(7,-7) . If the coordinates of A are (8, - 6) , what are the coordinates of B?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!