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Posted on Sep 10, 2024

Peter took out a student loan for $ 7 9 0 0 0 . He set up a payment plan to pay off the loan

Peter took out a student loan for $

79000 .

He set up a payment plan to pay off the loan monthly for the next

7

years at

7.2 %

interest compounded monthly. His monthly payments would be $

1200.06 .

How much total in interest would he pay to pay off the loan

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