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Claude took out a subsidized student loan of $12,775 at a 9.6% APR compounded monthly, to pay for his last 2 semesters of college. If he will begin paying off the loan in 15 months, how much will he owe
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Claude took out a subsidized student loan of $12,775 at a 9.6% APR

compounded monthly, to pay for his last 2 semesters of college. If he will
begin paying off the loan in 15 months, how much will he owe when he
begins making payments?
?????

User Bobson
by
8.7k points

1 Answer

3 votes

Answer:

12,775.00, since the government is responsible for the interest on the loan that accrues before Claude starts making payments

Explanation:

APEX

User Muhammad Abrar
by
9.0k points
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