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Answer to Question #143786 in Financial Math for Jessica Martinez
Question #143786
It’s time for Ronda to start repaying her student loans, which are amortized over the next 10 years. Her first month’s payment due is $396. How much should she expect to pay next month?
Expert's answer
Ronda should expect to pay next month the monthly installments of her loan plus the interest on the principal since this is how payments of amortized loans works.
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Dear Alexa, please use the panel for submitting new questions.
f you were trying to decide whether to take out an auto loan for $6500 to buy your first car, thereby allowing you to commute for an impressive summer internship program next year, would that loan meet the requirements?
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