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.

Assuming annual payments with annual compounding, how much should you pay each year?

a.

5,555$

b.

4,011$

c.

4,000$

d.

2,402$

e.

6,510$

f.

5,226$

g.

5,862$

h.

5,435$