Sean has taken out student loans to pay for college. He has borrowed $36,000 to cover tuition fees and agreed to pay the balance at a 4.68 % add-on rate for 8 years. What are his monthly payments and how much would he end up paying for his education if he kept the loan to term? Total amount to be repaid: Monthly payments:

Sean has taken out student loans to pay for college. He has borrowed $36,000 to cover tuition fees and agreed to pay the balance at a 4.68 % add-on rate for 8 years. What are his monthly payments and how much would he end up paying for his education if he kept the loan to term? Total amount to be repaid: Monthly payments:

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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