You borrow $7000 to help pay your college expenses. You agree to repay the loan at the end of 8 years at 9% interest, compounded quarterly. (Round your answers to two decimal places.) (a) What is the...




You borrow $7000 to help pay your college expenses. You agree to repay the loan at the end of 8 years at 9% interest, compounded quarterly. (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?




Jun 03, 2022
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