Ben has been accepted into a 2-year culinary arts program at the Greenfield Career Institute. He has been approved for a $5,000 unsubsidized 10-year federal loan at 4.29%. He knows he has the option of beginning repayment of the loan in 2.5 years. He also knows that during this nonpayment period, interest will accrue at 4.29%. How much interest will Ben accrue during the 2.5-year nonpayment period?

Use the following situation to answer. Britta has been accepted into a 2-year medical assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the option of beginning repayment of the loan in 2.5 years. She also knows that during this nonpayment time, interest will accrue at 4.29%. Suppose that Britta decided to take out a private loan for$12,000 for which loan payments start as soon as the loan amount is deposited in her account and continue for 10 years. The interest rate is 6.1%. Determine her monthly payment.

Maribel was approved for a 7-year private student loan at 6.8% to cover her college costs of $10,900. What is the total interest amount?

Use the following situation to answer. Britta has been accepted into a 2-year medical assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the option of beginning repayment of the loan in 2.5 years. She also knows that during this nonpayment time, interest will accrue at 4.29%. If Britta decides to make no payments during the 2.5 years, the interest will be capitalized at the end of that period. What will the new principal be when she begins making loan payments?

Use the following situation to answer. Britta has been accepted into a 2-year medical assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the option of beginning repayment of the loan in 2.5 years. She also knows that during this nonpayment time, interest will accrue at 4.29%. How much interest will Britta accrue during the 2.5-year nonpayment period?

What is the monthly payment on a 30-year mortgage of $100,000 at 8% interest per year, compounded monthly? What is the total amount paid on this loan over the 30-year period?

Juan purchased a tool set for $t on the installment plan. He made a 15$m per month for the next y years. Express the finance charge algebraically.

Phil has been accepted into a 2-year Radiology Technician Program at a career school. He has been awarded a $9000 unsubsidized 10-year federal loan at 4.29%. He knows he has the option of beginning repayment of the loan in 2.5 years. He also knows that during this non-payment time, interest will accrue at 4.29%. Suppose that Phil had decided to take out a private loan for$9,000 where loan payments start as soon as the loan amount is deposited in his student account and continue for 10 years. The interest rate is 8.1%. a. Determine his monthly payment. b. What is the total amount he will pay back? c- What is the total interest amount?

Maribel was approved for a 7-year private student loan at 6.8% to cover her college costs of $10,900. What is the total amount she will pay back?

Phil has been accepted into a 2-year Radiology Technician Program at a career school. He has been awarded a $9000 unsubsidized 10-year federal loan at 4.29%. He knows he has the option of beginning repayment of the loan in 2.5 years. He also knows that during this non-payment time, interest will accrue at 4.29%. If Phil decides to make no payments during the 2.5 years, the interest will be capitalized at the end of that period. What will be the new principal when he begins making loan payments?

Rodrigo is attending a 4-year college. As a freshman, he was approved for a 10-year, federal unsubsidized student loan in the amount of $5,300 at 4.29%. He knows he has the option of beginning repayment of the loan in 4.5 years. He also knows that during this nonpayment period, interest will accrue at 4.29%. Suppose Rodrigo only paid the interest during his 4 years in school and the 6-month grace period. What will he now pay in interest over the term of his loan?

Use the following situation to answer. Rich is attending a 4-year college. As a freshman, he was approved for a 10-year, federal unsubsidized student loan in the amount of $7,900 at 4.29%. He knows he has the option of beginning repayment of the loan in 4.5 years. He also knows that during this nonpayment time, interest will accrue at 4.29%. Suppose Rich only paid the interest during his 4 years in school and the 6-month grace period. What will he now pay in interest over the term of his loan?

Rodrigo is attending a 4-year college. As a freshman, he was approved for a 10-year, federal unsubsidized student loan in the amount of $5,300 at 4.29%. He knows he has the option of beginning repayment of the loan in 4.5 years. He also knows that during this nonpayment period, interest will accrue at 4.29%. How much interest will Rodrigo accrue during the 4.5-year nonpayment period?

Sarah is taking out a $24,400, 4-year new-car loan with an APR of 2.88%. What is the finance charge for this loan? Round to the nearest hundred dollars.