Question: Problem 16 Intro You took out a student loan in college and now have to pay $1,500 every year for 15 years, starting one year

Problem 16 Intro You took out a student loan in college

Problem 16 Intro You took out a student loan in college and now have to pay $1,500 every year for 15 years, starting one year from now. The annual interest rate on the loan is 8%. Part 1 IB Attempt 2/3 for 10 pts. What is the present value of the 15 yearly payments (i.e. the amount of student loan you borrowed)? 0+ decimals Submit

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