A student loan is taken out for $7500 at 7%. The student graduates 3 years and 3 months after the loan is aquired. Payments are deferred for 3 months after graduation. Find the total amount of interest that will accrue before regular payments begin, using 30-day months.
A) $1684.80
B) $388.80
C) $1814.40
D) $4312.11
Correct Answer:
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