You Estimate That You Will Owe $70,000 in Student Loans

question 155

Multiple Choice

You estimate that you will owe $70,000 in student loans by the time you graduate. The interest rate is 6 percent compounded monthly. If you want to have this debt paid in full within 10 years, how much must you pay each month?

• A)​$5,310.76
• B)​$427.14
• C)​$777.14
• D)​9,510.74

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