23.

After graduation, you decide that you can pay $203.24 per month extra on your student loan (standard monthly payment is 302.99), which has a balance of $50,000 and 20 years of monthly payments remaining. The annual interest rate on the loan is 4% How many years early will you be able to pay off the loan?

Question 23 options:

	9.9
	10
	120
	121

26.

You want to start saving for your daughter's college education now. She will enter college at age 18 (when she turns 18, i.e. beginning of 18, end of 17) and will pay fees of $4,000 at the end of each of the four years (fees are paid at the end of 18, 19, 20, 21). You will start your savings by making a deposit in one year and at the end of every year until she begins college. If annual deposits of $2,458.79 (from today onward, at the end of each year) will allow you to reach your goal, how old is your daughter now? Assume you can earn 6% annual interest on your savings.

Question 26 options:

	Just turned 15
	Just turned 13
	Just turned 12