Joe and Kathy Graczak borrowed $132000 for their son’s four-year college education. They must repay the loan at the end of 10 years. With 4.25% on their parent’s PLUS loan, what is the maturity value

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Joe and Kathy Graczak borrowed $132000 for their son’s four-year college education. They must repay the loan at the end  of 10 years. With 4.25% on their parent’s PLUS loan, what is the maturity value?

                 Instructions

  • all workings must be shown and answers given after every step
  • explanations should be precise
  • clarification is always  allowed
  • Non-programmed scientific calculator may be used

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