Julian Is a Student Relying on Student Loans

question 44

Multiple Choice

Julian is a student relying on student loans.He feels he would like to borrow an extra $4000 each year for the next four years to take vacations to recover from studying.Assume that no interest accrues until he completes his education and begins paying off the loan.The interest rate for the loan amount will be seven percent per year compounded monthly and he will pay it off over five years by making end of month payments.What would his monthly payment be on this loan?

• A)$374
• B)$267
• C)$271
• D)$316

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Definitions:

Internal Carotid Artery

The major artery that supplies blood to the brain, originating from the common carotid artery and running through the neck into the skull.

Ophthalmic Artery

The artery that supplies blood to the eyes and surrounding structures, originating from the internal carotid artery.

Pulmonary Circuit

The path of circulation between the heart and the lungs where blood is oxygenated.

Right Ventricle

The chamber of the heart that receives deoxygenated blood from the right atrium and pumps it into the pulmonary artery toward the lungs for oxygenation.