How much new graduate pay in ten equal annual payments, Microeconomics

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How much new graduate pay in ten equal annual payments

Problem

Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology How much should a new graduate pay in 10 equal annual payments, starting 2 years from now, in order to repay a $30,000 loan he has received today? The interest rate is 6% per year.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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