When Miguel had 5 years left in college, he took out a student loan for $19,246. The loan has an annual interest rate of 4.2%. Miguel graduated 5 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Miguel will make monthly payments for 5 years after graduation. During the 5 years he was in school and not making payments, the loan accrued simple interest