Who used the subsidized loan program

Assignment Help Financial Management

Reference no: EM131452121

Ben is a 22 year old senior who used the subsidized loan program to borrow $4,000 four years ago when interest rates were 4.06% per year. $5,000 was borrowed three years ago at 3.42%. Two years ago she borrowed $6,000 at 5.23%, and last year $7,000 was borrowed at 6.03% per year. Now he would like to consolidate her debt into a single 20 year loan with a 5% fixed annual interest rate. If Ben makes annual payments (starting in one year) to repay her total debt, what is the amount of each payment?

Reference no: EM131452121

Questions Cloud

Calculate indirect service costs related to job performed : Calculate the indirect service costs related to the job performed for Orvieto Industries.

Walt-disney case analysis : 1. What is Walt-Disney Company's corporate strategy?

Why do physicians still recite the hippocratic oath : What are the differences among ethics, morals, etiquette (values) and laws? Give examples.Why do physicians still recite the Hippocratic Oath?

Culminate the learning achieved in the course : The purpose of the Final Project Paper is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge

Who used the subsidized loan program : Ben is a 22 year old senior who used the subsidized loan program to borrow $4,000 four years ago when interest rates were 4.06% per year.

List typical fields for each type of data : Suppose you are a marketing assistant for a consumer electronics company and are in charge of setting up your company's booth at trade shows.

Determine your communication plan strategy : Develop a stakeholder analysis for your project. Identify as many stakeholders as you can. List the stakeholders by name and title.

Representation of the world as broken down into three levels : In Organizational Behavior (OB), we utilize the representation of the world as broken down into three levels. What are these levels?

Chances of conflict escalation between the teams : Think about an interteam challenge or conflict that you have either been part of or have observed in your organization.

User Account

All Pages