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3. autumn took out a 30000 student loan with a fixed...

# Question: autumn took out a 30000 student loan with a fixed...

###### Question details

Autumn took out a $30,000 student loan with a fixed interest rate to pay for college. Autumn did not make payments on her loan for a period of 7 years. After this time period interest had accrued, resulting in the loan balance increasing to$60,000.

1. What is is the 7-year growth factor for the amount that Autumn owes on the loan?

2. What is the 7-year percent change for the amount that Autumn owes on the loan?

%

3. What is is the 1-year growth factor for the amount that Autumn owes on the loan?

4. What is the 1-year percent change for the amount that Autumn owes on the loan?

%