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You have a student loan on which you must make equal payments at the end of each month. The interest rate is 5.44% compounded monthly.

You have a student loan on which you must make equal payments at the end of each month. The interest rate is 5.44% compounded monthly. You owe $32,500. How much interest will you pay over the life of this loan assuming you will pay it off in eight years?

Points: 1

$7,656

$8,926

$9,270

$10,556

$40,156

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