Kari had Canada Student Loans totalling $3800 when she completed her program at Niagara College in December. She had enough savings at the end of June to pay the interest that had accrued during the six-month grace period. Kari made arrangements with the National Student Loans Service Centre to start end-of-month payments of $60 in July. She chose the fixed interest rate option (at prime plus 5%) when the prime rate was at 5.5%. Prepare a loan repayment schedule up to and including the September 30 payment.
This question was answered on: Jul 11, 2017
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