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Sandy Nguyen just graduated from college and has $40,000 in student loans. The loans bear interest at a rate of 8% and require quarterly payments.
Sandy Nguyen just graduated from college and has $40,000 in student loans. The loans bear
interest at a rate of 8% and require quarterly payments.
a. What amount should Sandy pay each quarter if she wishes to pay off her student loans in
six years?
b. Sandy can only afford to pay $1,500 per quarter. How long will it take Sandy to repay these
loans ?
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