Question: A student takes oat a 5 2 5 , 0 0 0 loan with a 6 % interest rate for 1 0 years. What are

A student takes oat a

525, 000

loan with a

6 %

interest rate for

10

years. What are the monthly pryments? Afer

3

years, the student begins paying an extrs $

150

every month towards the loan. How long will it take to pay off the loan with the extra paymenta? How moch interest is saved by making theve extra payments?

A student takes oat a 5 2 5 , 0 0 0 loan with a 6

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