I have been stuck for hours. Please someone help me as soon as possible please thank you

Question

1.) Jeffery Wel received a 7-year non-subsidized student loan of $31,000 at an annual interest rate of 5.5%. What are Jeffery's monthly loan payments for this loan after he graduates in 4 years? (Round your answer to the nearest cent).

2.) Melissa Hernandez received an 8-year subsidized student loan of $29,000 at an annual interest rate of 4.7%. What are Melissa's monthly loan payments for this loan when she graduates in 1 year? (Round your answer to the nearest cent).

3.) Angelica Reardon received a 5-year non-subsidized student loan of $16,000 at an annual interest rate of 6.1%. What are Angelica's monthly loan payments for this loan after she graduates in 4 years? (Round your answer to the nearest cent).

Hello. I have been stuck on these questions for hours. Please help me and please also provide the formulas.

Answer 1

It seems like for #1, its two things that are important. The "non-subsidized" term used here and the amount of years Jeffery was in school.

Assuming here the 7 year loan means there are 7 years to repay the loan, you'd want to want to pay attention to how much interest accrued while he was in school, then how long is left on the loan to repay.

Numers 2 and 3 are very similar in how these problems are solved. Hope this helped.