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To Offset College Expenses, at the Beginning of Your Freshman

Question 33

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To offset college expenses, at the beginning of your freshman year you obtain a nonsubsidized student loan for $18,000. Interest on this loan accrues at a rate of 3.15% compounded monthly. However, you do not have to make any payments against either the principal or the interest until after you graduate. Write a model giving the total amount you will owe on this loan after t years in college.


A) To offset college expenses, at the beginning of your freshman year you obtain a nonsubsidized student loan for $18,000. Interest on this loan accrues at a rate of 3.15% compounded monthly. However, you do not have to make any payments against either the principal or the interest until after you graduate. Write a model giving the total amount you will owe on this loan after t years in college. A) B) C) D) E)
B) To offset college expenses, at the beginning of your freshman year you obtain a nonsubsidized student loan for $18,000. Interest on this loan accrues at a rate of 3.15% compounded monthly. However, you do not have to make any payments against either the principal or the interest until after you graduate. Write a model giving the total amount you will owe on this loan after t years in college. A) B) C) D) E)
C) To offset college expenses, at the beginning of your freshman year you obtain a nonsubsidized student loan for $18,000. Interest on this loan accrues at a rate of 3.15% compounded monthly. However, you do not have to make any payments against either the principal or the interest until after you graduate. Write a model giving the total amount you will owe on this loan after t years in college. A) B) C) D) E)
D) To offset college expenses, at the beginning of your freshman year you obtain a nonsubsidized student loan for $18,000. Interest on this loan accrues at a rate of 3.15% compounded monthly. However, you do not have to make any payments against either the principal or the interest until after you graduate. Write a model giving the total amount you will owe on this loan after t years in college. A) B) C) D) E)
E) To offset college expenses, at the beginning of your freshman year you obtain a nonsubsidized student loan for $18,000. Interest on this loan accrues at a rate of 3.15% compounded monthly. However, you do not have to make any payments against either the principal or the interest until after you graduate. Write a model giving the total amount you will owe on this loan after t years in college. A) B) C) D) E)

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