You have an outstanding student loan with required payments of $$$$570$ per month for the next $4$ years. The interest rate on the loan is $6\%$ APR$($monthly$).$ You are considering making an extra payment of $$$$120$ today$($that is$,$ you will pay an extra $ $120$ that you are not required to$$ pay$).$ If you are required to continue to make payments of $$$$570$ per month until the loan is paid$$ off, what is the amount of your final$$ payment? What effective rate of return$($expressed as an APR with monthly$$ compounding$)$ have you earned on the $$$$120?$ Now that you realize your best investment is to prepay your student$$ loan, you decide to prepay as much as you can each month. Looking at your$$ budget, you can afford to pay an extra $$$$220$ per month in addition to your required monthly payments of $$$$570,$ or $$$$790$ in total each month. How long will it take you to pay off the$$ loan?

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Part $1$

The outstanding loan balance is $$$

$$

$24270\mathrm{.}78.($Round to the nearest$$ cent.$)$

Part $2$

The amount of your final payment is $$$

$$

$417\mathrm{.}54.($Round to the nearest$$ cent.$)$

Part $3$

The rate of return$($APR$)$ you have earned on the $$$$120$ is

$$

enter your response here$\%.($Round to the nearest$$ integer.$)$