You owe $19,000 on student loans at an interest rate of 4.3% compounded monthly. You want to pay off the loan in 6 years. What will your monthly payments be? $ How much interest do you pay?
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Step 1
Step 1: Calculate the number of months in 6 years There are 12 months in a year, so 6 years is 6 x 12 = 72 months. Show more…
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