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3. Your rich grandparents inform you that they will pay $1,000/month toward your college loans after you finish school. If you complete college with

3. Your rich grandparents inform you that they will pay $1,000/month toward your college loans after you finish school. If you complete college with $77,777 in debt, repayable at 3.98% APR... a.... how many payments must your grandparents make before you are debt-free? b.... how much money will it cost your grandparents, in total, to repay your loan?

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