Consider the following student loan information : 16,500 at 6.2% interest, student graduates 1 year...
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Accounting
Consider the following student loan information : 16,500 at 6.2% interest, student graduates 1 year and 9 months after loan is acquired; payments deferred for 6 months after graduation calculate the interest that accrues in a 30-day month. Find the total amount of interest that will accrue before regular payments begin (using 30-day months). Calculate the monthly payment on the loan , assuming that the term of the loan is 10 years
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