You graduated from college and decided to attend law school. If you go to law school, you will be forced to incur $180,000 in student loans. The re-payment of the student loans will take place over the next ten years after you graduate. The current rate on student loans is 6% ARP (with monthly compounding).

1. How much in interest will you pay over the lifetime of the loan?
2. How much interest will save if you add an additional $150 to your monthly payment?