Question: William recently graduated from NFA University. While at NFA, William took out a $50,000 student loan. His loan requires him to make monthly payments for

William recently graduated from NFA University. While at NFA, William took out a $50,000

student loan. His loan requires him to make monthly payments for a 10-year period. (a) If thesimple annual interest is 4.2 percent, what are William's monthly payments? (b) To the nearest

dollar, how much will William owe on his student loan after he makes payments for three years?

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