solution

Related to the Apply the concept “terest Rates and Student Loans”) A student looking at the finalitate a student to shown in the lat just before the Apply the concept foature and makes the following obarvation The states that the interest rate on the town is 48% but the calculation is obviously wrong Each mormy payment in $104, he went wit be paying Back 3104 x 1225.248 per year. Therefore, became the principal of the founde $10.000, the interest rate must be $1.246/510.000 0.1248 of 1240% Brieflyplain whether you are with the desertoning OA Agree. Even though the stated to 40% payments are made morty, which compounded more to the heart works out to 12:40 On The payments dude both price and Therefore, 5104 Damera depan down the role wing interest on the propel OC. Ag. As a tent, there we payment of $1,248 per year, so it is to 10,000 works out to be 2.43% OD. Dage. The stated rate on the 40%, which means that even though the loans made with monthly payments, the bowersoffey charged on 45 a you