C) The graduate's parents hear of his plight. They offer to extend him a loan to pay off the debt, with the interest rate charged equal to 8% per year, compounded monthly. The student wishes to know the incremental value of this new borrowing opportunity (relative to the credit card debt) today (so that he can go shopping.) That is, he wishes to know how much he can spend today and still have the same monthly payments as in part a). What can he spend on today's shopping trip