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Suppose your student loan totals $35,000 when you graduate from Penn State. You are scheduled to make equal monthly payments to pay off the loan
Suppose your student loan totals $35,000 when you graduate from Penn State. You are scheduled to make equal monthly payments to pay off the loan in 20 years, and the interest rate on the loan is 6%. Find your monthly payment
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To calculate the monthly payment to pay off a loan we can use the amortization formula The formula f...Get Instant Access to Expert-Tailored Solutions
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