You borrow $7000 to help pay your college expenses. You agree to repay the loan at the end of 7 years at 12% interest, compounded monthly. (Round your answers to two decimal places.)
(a) What is the maturity value of the loan?
(b) How much interest are you paying on the loan?
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here