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During Four Years of College, Nolan MacGregor's Student Loans Are

question 57

Multiple Choice

During four years of college, Nolan MacGregor's student loans are $3,900, $4,400, $3,900, and $3,700 for freshman year through senior year, respectively. Each loan amount gathers interest of annual rate of 1%, compounded quarterly while Nolan is in school; and an annual rate of 3%, compounded quarterly during a 6-month grace period after graduation. Assume the freshman year loan earns an annual rate of 1% interest for year during the first year, then for 3 full years until graduation. Make similar assumptions for the loans for the other years. After the grace period, the loan is amortized over the next 10 years at an annual rate of 3%, compounded quarterly. Suppose Nolan decides to pay an additional $90 above the calculated quarterly payment, how much will Nolan save by paying the extra $90 with each payment? Round your answer to the nearest cent.

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

Analyze the role of government and non-governmental organizations in the advancement of public health.

Identify key figures and their contributions to public health and nursing.

Definitions:

High Cholesterol

A condition characterized by elevated levels of cholesterol in the blood, which can increase the risk of developing cardiovascular diseases.

Heart Attack

A medical condition that occurs when the flow of oxygen-rich blood to a section of heart muscle is blocked, which can damage or destroy the heart muscle.

Cardiovascular Death

Mortality resulting from heart conditions or diseases of the blood vessels, including heart attacks and stroke.

Ethnic Group

A community or population made up of people who share a common cultural background or descent, including language, religion, and traditional practices.