Suppose that Jackie has $30,000 remaining on a student loan with an annual interest rate of 13%. Braviary wishes to pay off the loan in13years. Assume that Braviary can refinance the loan 5%.

(a) What are Jackies monthly payments on the original loan?

(b) How much will Jackies new monthly payments be?

(c) How much interest will Braviary save over the 13 years?

(d) Test several interest rate's between 1% and 5% such that $28,206.98 will be saved over the 13 years?

(b) What will be the APR using Table 2?

(c) Estimate the APR?