Business, 08.11.2019 06:31 kayleetruman

Huai takes out a $3,600 student loan at 6.6% to him with 2 years of community college. after finishing the 2 years, he transfers to a state university and borrows another $11,600 to defray expenses for the 5 semesters he needs to graduate. he graduates 4 years and 4 months after acquiring the first loan and payments are deferred for 3 months after graduation. the second loan was acquired 2 years after the first and has an interest rate of 7.3%. find huai’s monthly payment when regular payments begin.

calculate the monthly payment on loan 1 (community college) round your answer two decimal places.

calculate the monthly payment on loan 2. round your answer two decimal places.

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Huai takes out a $3,600 student loan at 6.6% to him with 2 years of community college. after finish...