Spring $2024$

Create an Amortization schedule$-$see amortization video. How much student debt will

I bear by the time I graduate? What will my student loan payments be$?$

a$.$ My undergraduate student debt is $$28,500.$ I have secured a $4\mathrm{.}50\%$ annual rate

$($EAR$)$ for a $25-$year loan, identify the monthly payment.

b$.$ What is the total amount of interest paid on this loan?

c$.$ In total $($interest plus principle$)$ how much did you pay for this $$28,500$ loan?