Ms. Nicol is a recent graduate of the University of Edmonton. She owed approximately $67,000 in student loans. She has 10 years to repay her student loans. The first repayment is due in one year. The interest rate on her student loans is 8% compounded annually. 

How much does Ms. Nicol have to pay each year?

Answer rating: 100% (QA)

SOLUTION To calculate the annual payment that Ms Nicol has to make to repay her student loans we can ... View the full answer