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Posted on Oct 01, 2024

A graduating college student owes $ 2 7 , 6 9 0 for a student loan. The loan charges an APR of 4 . 6

A graduating college student owes $

27, 690

for a student loan. The loan charges an APR of

4.6 % .

What is the monthly payment required to pay off this loan in

16

years? Use two decimal place accuracy.

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