You are given an annual interest rate and the compounding period for two investments. Decide which is the better investment.9.6% compounded quarterly; 11% compounded Often, through government-supported programs, students may obtain “bargain” interest rates such as 6% or 8% to attend college. Frequently, payments are not due and interest does notaccumulate until the student stops attending college. A student has borrowed $43,000 at an annual interest rate of 6.9%.
Calculate the amount of interest due 2months after the student must begin payments. What is the interest rate due?
Compute the monthly payments for an add-on interest loan of $1870, with an annual interest rate of 6% and a term of 3years. What is the monthly payment?
