In order to get my higher education degree, I have decided to finance the cost of going to school. I will be going to a four-year public in-state institution, taking 15 credits in order to graduate in 4 years. It will cost $23,410 annually to go full time. With my yearly salary of $50,000 answer the following questions ---

Q: What is 7.65% of my monthly gross salary (payroll taxes?)

Q: What will be my monthly net income?

I will only be allowed to have a loan repayment capped at no more than 10% of my monthly gross income. Determine the maximum monthly payment that I would be required to make towards my loan using the loan rate of 2.75% - using this APR - CALCULATE THE MONTHLY PAYMENTS FOR 8, 10, and 15 years - MAKE SURE TO SHOW YOUR FULL WORK.

Q: What is the monthly payment over 8 years?

Q: What is the monthly payment over 10 years?

Q: What is the monthly payment over 15 years?

Q: Which of the monthly payments amounts would fall within he 10% guideline? If all of the payments are more than the 10% guideline, how many years will I need the loan to e for in order for the payments to be under 10% of my monthly GROSS income?

Q: How many years will it take me to pay off the loan assuming that I make the maximum 10% payment each month?

Q: What is the total cost of financing my education?

Thank you so much for your time! I look forward to rating your answer highly!