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Consider a student loan of $ 1 0 , 0 0 0 at a fixed APR of 6 % for 5 years. a . Calculate
Consider a student loan of $ at a fixed APR of for years.
a Calculate the monthly payment.
b Determine the total amount paid over the term of the loan.
c Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
a The monthly payment is $
Do not round until the final answer. Then round to the nearest cent as needed.
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