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Consider a student loan of $17,500 at a fixed APR of 6% for 4 years. a. Calculate the monthly payment. b. Determine the total amount
Consider a student loan of $17,500 at a fixed APR of 6% for 4 years.
a. Calculate the monthly payment.
b. Determine the total amount paid over the term of the loan.
c. What is the total interest you will pay on the loan?
a. The monthly payment is $---- (Do not round until the final answer. Then round to the nearest cent as needed.)
b. The total amount paid over the course of the loan is $---- (Round to the nearest cent as needed.)
c. The total interest paid is $----- (Round to the nearest cent as needed.)
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