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Suppose you have the following three student loans: $12,000 with an APR of 7.5% for 12 years, $16,000 with an APR of 8% for 17 years, and $13,500 with an APR of 9% for 7 years.
a. Calculate the monthly payment for each loan individually.
b. Calculate the total you'll pay in payments during the life of all three loans.
C. A bank offers to consolidate your three loans into a single loan with an APR of 8% and a loan term of 17 years. What will your monthly payments be in that case? What will your total payments be over the 17 years?
a. The monthly payment of the $12,000 loan is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)
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A financial manager who consistently underestimates the_will tend to incorrectly reject project that would actually create the wealth for the stockholders
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