Question: 8. Morgan decides to pay more than the required minimum monthly amount for their loan to pay off the loan faster. They want to have

8. Morgan decides to pay more than the required minimum monthly amount for their loan to pay off the loan faster. They want to have the loan paid in full after 10 years. Round answers to two decimal places a. Assuming all the same conditions of the original student loan, what would Morgan's new monthly payment need to be if they wanted to pay off the loan in 10 years? (3pt) b. What is the total amount Morgan will pay if they pay off the loan in 10 years? (4 pt) (9) J. Schlaak, N. Wable 2021 - This content is protected and may not be shared, uploaded or distributed. 6 You may not ask for help from others or give help to others on specific project questions. You may not ask for help from others or give help to others on specific project questions. Part 3: Student Loans 7. Morgan recently graduated college with their degree and owes (d) $24,688 in student loans with an APR of 4.6% compounded monthly. They are expected to pay off the loan in 15 years. Round answers to two decimal places. a. Under the current terms of their loan, what is Morgan's minimum monthly payment? (3pt) b. What is the total amount Morgan will pay when the loan is complete? (4 pt)

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