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Assume you graduate from college with $31,000 in student loans. If your interest rate is xed at 4.50% APR with monthly compounding and you repay

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Assume you graduate from college with $31,000 in student loans. If your interest rate is xed at 4.50% APR with monthly compounding and you repay the loans over a 10year period. what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $ 116.25 . (Round to the nearest cent.)

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