Interest rate is being charged on this typical student loan

Assignment Help Business Economics

Reference no: EM131005245

In 2014, the average debt for college student loans is $28,700. This amounts to a $330 monthly payment for a “standard” loan repayment plan over 10 years. What monthly interest rate is being charged on this typical student loan?

Reference no: EM131005245

Questions Cloud

An individual deposits an annual bonus into savings account : An individual deposits an annual bonus into a savings account that pays 6% interest compounded annually. The size of the bonus increases by $5,000 each year, and the initial bonus amount was $20,000. Determine how much will be in the account immediat..

Use the aggregate expenditure model developed : Use the aggregate expenditure model developed in this chapter to explain the following statements: Coming amid continued turmoil in the financial and credit markets, the report sent stocks lower, with the Dow Jones Industrial Average falling 146.70 p..

Calculate the firm wacc : Calculate the firm's WACC. Prepare and analyze each planned capital expenditure. Evaluate, rank, and recommend the capital expenditures according to beneficial value to the organization, using the evaluation tools NPV, payback, and IRR

Develop an employment agreement for strong company : Prepare a statement that includes your recommendation for screening applicants. If you recommend that the company should not employ screening processing, be sure to include reasons why, relevant documentation backing up your recommendation, and po..

Interest rate is being charged on this typical student loan : In 2014, the average debt for college student loans is $28,700. This amounts to a $330 monthly payment for a “standard” loan repayment plan over 10 years. What monthly interest rate is being charged on this typical student loan?

Obtain that system of seven equations and comment : The result is a set of four scalar equations. When the translational equations are expanded, and appended to the first four equations, a system of seven trigonometric equations in the six unknown angles is derived. Obtain that system of seven equa..

Typical basket of goods for a typical consumer : In Bovania, milk constitutes 56% of the typical basket of goods for a typical consumer. Let's say the price of milk rises by 7% and the prices of all other goods fall by 4%. Based on the information given, we can definitely say... The answer is that ..

How fast is the temperature changing in the sensor : The temperature in degrees at a point (x,y,z) is given by T(x,y) = 2x2y2 + z2y . How fast is the temperature changing in the sensor at time t = 1?

What are the miller indices of the direction vector running : Referring to the unit cell of the Si lattice reproduced in Fig. Pl.S, and noting that the origin of coordinates is located at the lower back corner of the unit cell- What are the Miller indices of the plane passing through the points ABC?

User Account

All Pages