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You estimate that you will have $ 3 0 , 0 0 0 in student loans by the time you graduate. The interest rate is

You estimate that you will have $30,000 in student loans by the time you graduate. The interest rate is 5 percent, compounded monthly. If you want to have this debt paid in full within five years, how much must you pay each month? (Hint: Compute the payment of annuity)
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$429.30
$566.14
$628.12
$644.29

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