You estimate that you will owe $62,100 in student loans by the time you graduate. The interest rate is 4.6 percent. If you want to have this debt paid in full within 25 years, how much must you pay each month? Monthly payment =$ Allowed attempts: 3 Now suppose you decide to defer your payments for 2 years. What will the balance of your loans be when you start to make payments? (Hint interest will still be charged monthly). New balance =$ Allowed attempts: 3 At this point, how much will you need to pay each month to pay the debt in full over 25 years? New payment =$ Allowed attempts:-3 Suppose you want to make up for lost time and pay off your debts within 25 years from graduation, despite the deferral. What monthly payment is required to meet this goal? Monthly payment =$ Allowed attempts: 3