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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
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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)?

User Tbenst
by
7.8k points

1 Answer

1 vote

Answer:

432

Explanation:

2250x4.8=10,800

5x5=25

10,800/25=432

User Bret Fisher
by
7.4k points
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