Question
The total amount of student debt at ones graduation is $89,000. If annual income after college is $45,000 and the annual interest rate on debt
The total amount of student debt at ones graduation is $89,000. If annual income after college is $45,000 and the annual interest rate on debt is 8.7%, what percentage of annual post-college income should go toward payments on student debt to have it fully paid off in 14 years?
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International Financial Management
Authors: Cheol S. Eun, Bruce G.Resnick
6th Edition
71316973, 978-0071316972, 78034655, 978-0078034657
