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After graduating college, Alexis has $26,500 in student loan debt. Since these loans are subsidized, Alexis gets an annual interest rate of 2.25%, compounded monthly,

After graduating college, Alexis has $26,500 in student loan debt. Since these loans are subsidized, Alexis gets an annual interest rate of 2.25%, compounded monthly, so long as the loans are paid back within 20 years.

b. If Alexis pays off the student loan debt in 20 years using the minimum monthly payment, how much total interest will be paid on the life of the loan?

Keep as many decimal as possible during your calculations, but round your final answer to the nearest penny.
After graduating college, Alexis has $26,500 in student loan debt. Since these loans are subsidized, Alexis gets an annual interest rate of 2.25%, compounded monthly, so long as the loans are paid back within 20 years. b. If Alexis pays off the student loan debt in 20 years using the minimum monthly payment, how much total interest will be paid on the life of the loan? Keep as many decimal as possible during your calculations, but round your final answer to the nearest penny

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