Question: 2 . Jake is considering changing to the extended repayment plan on his student loans. If he does this, the loans will take 2 0

2. Jake is considering changing to the extended repayment plan on his student loans. If he does this, the loans will take 20 years to pay off instead of 10.
a. Calculate his new monthly payments for all of his student loans if the term changes to 20-years.
b. How much lower will his total students loan payment be if he changes to the 20-year repayment plan?
c. Is this something Jake should consider doing to help him achieve his other cash management goals?

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