Question: A student needs to borrow $9,000 to pay for college. She can get the loan at an APR of 10.75% to be paid off

A student needs to borrow $9,000 to pay for college. She can get the loan at an APR of 10.75% to be paid off

A student needs to borrow $9,000 to pay for college. She can get the loan at an APR of 10.75% to be paid off in monthly installments over the next 4 years. If she decides to pay the loan off in monthly installments over 3 years instead of 4 years at the given APR, how much money will she save altogether? Round your answer to the nearest cent.)

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