Question: 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

Jake is considering changing to the "extended repayment plan on his

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. Calculate his new monthly payment and how much he will have paid in extra interest as a result of extending the term. Is this something Jake should consider in light of his other cash management goals

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