3. What is Paul's monthly payment if he wants to repay his student loans completely within 10 years? Assume Paul pays a 5 percent annual interest rate (compounded monthly) on his student loan. Construct the amortization schedule of Paul's student loan for the first three months. Jinhee Ju. 27. has an annual salary of $37,000. Jinhee wants to buy a new car in 3 years, and she wants to save enough money to make a $7,000 down payment on the car and finance the balance. Also, in her plan is a wedding. Jinhee and her boyfriend, Paul, have set a wedding date 2 years in the future, after he finishes medical school. Paul will have a $100,000 student loan to repay after graduation. But both Jinhee and Paul want to buy a home of their own as soon as possible. This may be possible because at age 30, Jinhee will be eligible to access a $50,000 trust fund left to her as an inheritance by her late grandfather. Her trust fund is invested in 7 percent government bonds