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Question 18 3 pts A friend of mine recently graduated with $50,000 in student debt. As a graduation gift, her parents gave her $50,000 to
Question 18 3 pts A friend of mine recently graduated with $50,000 in student debt. As a graduation gift, her parents gave her $50,000 to pay off her debt. Her interest rate on the student loan is 3.1% annually. This means that if she doesn't pay a single dollar towards her balance in a year, her balance will increase by 3.1% at the end of the year. I suggested that she does not pay her debt today. Instead she should do the following. she invests that gift in a trust fund that pays 5.7% annual interest. The trust fund closes in 10 years. She pays the balance of her loan at the end of year 10 when she receives the proceeds of the trust fund. Ignoring inflation, how much money will she have in ten years if she listens to my advice? Enter your answer without $ sign
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