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worty [1.4K]
2 years ago
14

Andy took out an unsubsidized student loan of $11,000 at a 7.2% APR, compounded monthly, to pay for his last two semesters of co

llege. If he will begin paying off the loan in 15 months, how much will he owe when he begins making payments?
Business
2 answers:
kramer2 years ago
8 0

$12,032.68, since Andy is responsible for the interest on the loan that accrues before he starts making payments.

Brut [27]2 years ago
5 0

Answer:

$12,032.68, since Andy is responsible for the interest on the loan that accrues before he starts making payments. - APEX

Explanation:

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