You have a student loan of 40,000$ that you want to repay in 10 years. Interest rates are at 6% per year for every maturity.

Assumingmonthly payments with monthly compounding, how much should you pay each month?

a.

346$

b.

499$

c.

476$

d.

313$

e.

333$

f.

574$

g.

444$

h.

512$