2 years ago

Naika took out a $29,300 5 year Federal Loan with an interest rate of 3.22%. She will

Mathematics

1 answer:

mina [271]2 years ago

6 0

9514 1404 393

Answer:

$4717.30

Step-by-step explanation:

Assuming the interest is capitalized only at the start of repayment, the accrued interest is ...

I = Prt

I = ($29,300)(0.0322)(4 +1) = $4717.30

The accrued interest is $4717.30.

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