Assume you graduate from college with $30,000 in student loans. If your interest rate is fixed at
Question:
Assume you graduate from college with $30,000 in student loans. If your interest rate is fixed at 4.66% APR with monthly compounding and you will repay the loans over a 10-year period, what will be your monthly payment?
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Step by Step Answer:
Use the annuity formula to calculate the monthly payment ...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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