As a student in college, you borrow $20,000 in student loans at an interest rate of 7.5
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Question:
As a student in college, you borrow $20,000 in student loans at an interest rate of 7.5 percent Per annum, compounded monthly. You are going to repay these student loans over the next 10 years making a payment each' month with the first payment being made today: Calculate the monthly payment that vou will have to make in order to repay the student loans
Expert Answer:
To calculate the monthly payment required to repay a student loan we can use ... View the full answer
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