A student has $35,000 in student loan debt upon completing their degree at Clark. The loan is
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Question:
A student has $35,000 in student loan debt upon completing their degree at Clark. The loan is a 10-year loan with a 6.50% interest rate and is paid via a monthly payment. Please performance the following:
- Calculate the monthly payment
- Perform a 10-year debt amortization schedule for the loan
- How much interest will the student pay over the life of the loan?
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