In 2014, the average debt for college student loans is $28,700. This amounts to a $330 monthly

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In 2014, the average debt for college student loans is $28,700. This amounts to a $330 monthly payment for a “standard” loan repayment plan over 10 years. What monthly interest rate is being charged on this typical student loan?

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Engineering Economy

ISBN: 978-0133439274

16th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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Question Posted: Dec 03, 2018 12:25 PM

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In 2014, the average debt for college student loans is $28,700. This amounts to a $330 monthly

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In this problem we know P 28700 A 330 per month and N 10 years We ...View the full answer

Engineering Economy

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