Suppose that you borrowed $$25,000$ student loans. Once you graduate, you are required to start paying your loan and interest. The APR for your loan is $5\mathrm{.}54\%.$ Each month you will have to make interest payment and principal repayment.

Suppose that you can choose the following two repayment plans:

$-$Standard repayment plan: if you choose this plan, you will have to pay off your loan in $10$ years with the same amount of payment each month.

$-$Fixed extended repayment plan: if you choose this plan, you will be allowed to pay off your loan in $25$ years with the same amount of payment each month.

Write a short memo to summarize your results obtained from the loan amortization tables and discuss which repayment plan you would like to choose.