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emanol

Public contributions from visitors who posted under the name emanol.

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Roderigo has just finished paying back his $8,575 unsubsidized Stafford loan, which he took out to fund his four-year degree. The loan had a duration of ten years and an interest rate of 7.1%, compounded monthly. Roderig...
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Roderigo has just finished paying back his $8,575 unsubsidized Stafford loan, which he took out to fund his four-year degree. The loan had a duration of ten years and an interest rate of 7.1%, compounded monthly. Roderig...
1 answer
Jessica took out a Stafford loan worth $7,175 at the beginning of her six-year college career. The loan has a duration of ten years and an interest rate of 6.3%, compounded monthly. How much greater will Jessica’s monthl...
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Describe some of the characteristics of federal student loans
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Sebastian has just graduated after four years of university. He took out an unsubsidized Stafford loan worth $8,180 to help pay for his tuition. The loan has a duration of ten years. If the loan has an interest rate of 5...
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Toby just graduated from four years of college. At the beginning of each year, he took out a Stafford loan with a principal of $6,125. Each loan had a duration of ten years and an interest rate of 5.3%, compounded monthl...
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Helena has taken out a $9,300 unsubsidized Stafford loan to pay for her college education. She plans to graduate in four years. The loan has a duration of ten years and an interest rate of 6.4%, compounded monthly. By th...
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Tamora has just graduated from college. When she entered college four years ago, she took out a $9,100 subsidized Stafford loan, which has a duration of ten years. The loan has an interest rate of 5.4%, compounded monthl...
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What is the purpose of the grace period of a student loan?
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Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional questions. Online Content: Site 1 What other options do you have besides federal loans to he...
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The following formula is used to calculate the monthly payment on a personal loan. P = P V times StartFraction i over 1 minus (1 + i) superscript negative n EndFraction In this formula, n represents the _____ . a. number...
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Susan took out a personal loan for $3,500 at an interest rate of 13% compounded monthly. She made arrangements to pay the loan off in 3 years. What will her monthly payment be? a. $99.34 b. $105.32 c. $117.93 d. $156.60...
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Tim and Sally are taking out a personal loan to pay for their wedding expenses. The loan is for $9,000 and comes with an interest rate of 9.5% compounded monthly. The couple wants to pay the loan off as quickly as possib...
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Determine the finance charge on an $8,000 loan with a monthly payment of $162.80 for 60 months. a. $29.47 b. $162.80 c. $1,768.00 d. $9,768.00 Please select the best answer from the choices provided A B C D
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In a secured loan, collateral is _____. a. valuable property that the borrower promises to give the lender in the event of default on the loan b. an agreement made in civil court agreeing that the borrower may be arreste...
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Jason used his car as collateral to borrow money from his bank. After losing his job, Jason is now unable to make his monthly payments for the loan, defaulting on the loan. If Jason is unable to continue to make his paym...
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Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his car as collateral. His car is worth $3,500. His bank can offer loans for 80% of collateral value. The vacation he has p...
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What is the total finance charge for a $4,250 loan at 13.25% interest compounded monthly for 24 months? a. $25.47 b. $202.55 c. $611.20 d. $4,861.20 Please select the best answer from the choices provided A B C D
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