Question 17, 8.2.39
Often, through government-supported programs, students may obtain "bargain" interest rates such as 6% or 8% to attend college. Frequently, payments are not due and interest does not
accumulate until the student stops attending college. A student has borrowed $30,000 at an annual interest rate of 7.9%. Calculate the amount of interest due 2 months after the student must begin
payments.
lomework
The interest due is $.
(Round to the nearest cent as needed.)
