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Jacob has $210,000 in student loans. His bank charges 4% APR (compounded monthly). If Jacob wants to pay off his student loans in 10 years,
Jacob has $210,000 in student loans. His bank charges 4% APR (compounded monthly). If Jacob wants to pay off his student loans in 10 years, Part A:) calculate the amount he must pay each month to eliminate the debt, Part B): and also calculate the number months it will take to pay off the loans he pays 1000 per month?
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