You graduate after four years with incredible memories and all the necessary skills for a successful career in Business. However, you also carry about $80,000 in student loans that you need to plan for. Assume that the interest rate is fixed at 7% per year with monthly compounding.

1. How much should you pay every month to fully repay your student loans in 10 years?

2. How much should you pay every month to fully repay your student loans in 20 years?

3. You get a $40,000 signing bonus from your first job. Suppose that instead of buying a fancy car, you decide to use the money to partially repay your loans. In that case, how much should you pay every month to fully repay the remainder of your student loans in 10 years?