Of her loan?
10. Britta has been accepted into a 2-year medical assistant program at a career school. She has
been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the
option of beginning repayment of the loan in 2.5 years. She also knows that during this
nonpayment time, interest will accrue at 4.29%.
Britta made her last monthly interest-only payment on May 5. Her next payment is due on
June 5. What will be the amount of that interest-only payment?