| Education LOAN/RETURN RATES DERIVED FROM QUARTERLY COMPOUNDING ---------------------------------- |
||||
|---|---|---|---|---|
| Period | (Qrly) | (Monthly) | (HalfYrly) | (Yearly) |
| 10 Yrs | 10.5%(Q) | 10.5%(M) | 10.5%(H) | 10.5%(Y) |
| 15 Yrs | 10.5%(Q) | 10.5%(M) | 10.5%(H) | 10.5%(Y) |
Education loans have a moratorium period
of duration of education before employment
During the moratorium period only
simple interest is applied.
Pl note that
For a rate of interest say 10.5% Quarterly
the simple interest rate is 10.92072 applied
annually