Question: Please do in Excel As a beginning freshman (Fall 2018), Jane expects to borrow $10,000 per year in unsubsidized student loans. Assume all loans occur

Please do in Excel

As a beginning freshman (Fall 2018), Jane expects to borrow $10,000 per year in unsubsidized student loans. Assume all loans occur on August 1 of each of her four years in college.

Interest accrues at the rate of 4.5% from the time her loan is received, but Jane does not pay interest while in school. This interest rate applies throughout the term of Janes student loan debt.

Jane must begin repaying her loans on August 1, 2022. Assume her repayment term is 10 years.

What is the balance on Janes loan at the time she begins repayment?

What is Janes monthly payment? If Jane wishes to pay off her loan in 5 years, what should she pay each month?

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