Mathematics, 03.02.2021 06:10 nourmaali
Henry wants to avoid interest capitalization on his $7,800 unsubsidized Stafford Loan. Henry will graduate in four years, and the loan has a duration of ten years. The loan has an interest rate of 5.6%, compounded monthly. How much must Henry pay every month to avoid interest capitalization?
A) $14.56
B) $43.68
C) $36.40
D) $31.20
Please explain.
Answers: 3
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Henry wants to avoid interest capitalization on his $7,800 unsubsidized Stafford Loan. Henry will gr...
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