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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

Assume you graduate from college with $31,000 in student loans. If your interest rate is ﬁxed at 4.50% APR with monthly compounding and you repay the loans over a 10year period.

What will be your monthly payment?

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