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anonymous
 5 years ago
If you borrow $1000 at 5% interest per year, compounded quarterly, and pay back the principal and interest after four years, the amount that you pay back is $______ .
anonymous
 5 years ago
If you borrow $1000 at 5% interest per year, compounded quarterly, and pay back the principal and interest after four years, the amount that you pay back is $______ .

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0it is the same as the other problem. you can do this on your own. C'mon!

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok sorry the wording just throws me off thanks

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0okay. the best way to learn is to think about what the problem says. good luck!

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0thanks alot for your help!

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0i had one more question if you have time

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0yes, but you have to think about it. I won't answer it okay?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok i will let me look at it again to make sure its not the same type haha

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0i tried I= PRT but it didnt look right

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Suppose that you take out an unsubsidized Stafford loan on September 1 before your junior year for $4500 and plan to begin paying it back on December 1 after graduation and grace period 27 months later. The interest rate is 6.8%. How much of what you will owe will be interest?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok lets count. how many years and months is sept 1 before junior year to december 1 on graduation?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0thats what i counted from sept to the next dec

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok lets see. sept 1 to oct 1 is one month. oct 1 to november 1 is one month. nov.1 to dec.1 is one month. so sept 1 to december 1 is 3 months, correct? and then december 1 to the next december 1 is 12 months. what is the total number of months?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0oh i messed up on those first 3 months, so its 15

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so now would you just use the same equation and plug in these numbers?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0okay and you have a grace period of 27 month additionally. So how many months do you have totally to repay the loan?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0Okay. so lets express 42 months in years, since the interest rate is per year I am assuming?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so how many years is 42 months?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0okay so now you have years, interest rate and principal amount. Do you need anything else to calculate total amount?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0well since we are just trying to find interest i think thats all i would need

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0then there you go! But what does the problem ask?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0it asks how much of what you owe will be interest

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so how will you find that?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0i did (4500)(.068)(3.5)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0thats to find the actual interest rate isnt it, hm would i just use compound interest again/ sorry i suck at math

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0no no you are right. you got the correct answer. But you should be able to say why you got that answer. Don't get intimidated by problems.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok thanks i just have zero confidence with math

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0math is simple. If you think step by step and logically, it reduces into smaller bits of problem which you can solve easily.

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ok ill try, thanks for all your help i really appreciate it
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