You expect to borrow $25,000 each year to pay the graduate school tuition for 2 years.

The student loan interest rate is around 7.5%. (a) How much will be your loan balance upon graduation? (b) How much will be your monthly payment if you pay it off in 5 years? (c) If you are also carrying $40,000 loan balance from your undergraduate degree at the time of graduate school graduation, along with graduate school loan balance, what will your student loan monthly payment be if you want to pay it off in 5 years.