Question: Moving to another question will save this response. Question 18 of 25 1 points Save Answer Kim Sou has just graduated from law school. She

 Moving to another question will save this response. Question 18 of

Moving to another question will save this response. Question 18 of 25 1 points Save Answer Kim Sou has just graduated from law school. She had taken an education loan of $45,000, which now needs to be repaid in equal monthly installments over the next 6 years. The amount of the monthly loan payment, if the loan carries a simple annual interest of 5% is closest to: 5663.85 $702.46 b. $724.72

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!