Question

You borrow $2250 at 4.8% compounded weekly for tuition. While you do not have to make payments for the 5 years that you are in school, the interest is compounding. What is your loan balance after the 5-year grace period (if you've made no payments)?

Answer 1

432

Explanation:

2250x4.8=10,800

5x5=25

10,800/25=432