A student has student loans of $96,000. He would like to pay it back in 10 years. (10 points) a) Calculate the monthly payments

Question

A student has student loans of $96,000. He would like to pay it back in 10 years. (10 points)
a) Calculate the monthly payments if his loan has a fixed APR of 8%.
b) What is the total amount that the student paid for his college education (principal and interest)?

Kunduz · Accepted Answer

Click to see the answer