Calculating Monthly Student Loan Payments

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the name of the document that you sign upon getting a school loan?

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1. Which type of loan is the most desirable?

2. Calculate the monthly payment for a $52,000 medical school loan with an annual interest rate of 4.66% over a 10 year period to pay it off.

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About This Quiz & Worksheet

Measure your knowledge of how to calculate student loan payments with this convenient quiz and worksheet that includes questions about different loan types. You can take the quiz at any time.

Quiz & Worksheet Goals

The quiz will test you on the following:

  • Document signed upon getting a school loan
  • Most desirable type of loan
  • Calculating a monthly payment for a given loan amount, interest rate, and timeframe
  • Aspect of the loan indicating the bank pays itself first
  • Calculating daily interest

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about calculating student loan payments
  • Interpreting information - verify that you can read information about the most desirable type of loan and interpret it correctly
  • Information recall - access the knowledge you've gained regarding how to calculate daily interest

Additional Learning

Explore this topic further by reviewing the related lesson titled Calculating Monthly Student Loan Payments. Here's a snapshot of what the lesson covers:

  • Understanding amortization
  • Sample loan calculation problems
  • Explanation of different types of student loans
Final Exam
Finding & Applying for Student Loans
This course currently has no practice test
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