Textbook ExpertVerified Tutor
21 Dec 2021
Given information
The total cost of repaying a student loan at an interest rate of per year is
Step-by-step explanation
Step 1.
When interest rate rises, the cost goes up by greater amount, so is always positive. If would be negative, then the cost would go up by lower amount as the interest rate would rise.
When interest rate rises, the cost goes up by greater amount, so is always positive.