Using an online loan calculator, calculate the fixed monthly payment and the total cost of repaying a $25,000 student loan with a 5.6% Exed annual interest rate compounded monthly and a 7-year loan term. (1 point)
The monthly payment $300, 44, and the total cost of repaying the kan is $5.278.87.
The monthly payment $303 58, and the total cost of resting the loan is $25,400.03
The monthly payment $298.21, the total cost of reptying the loan 82801962
The moment $350 44, and the total cost of repaying the loan is \$ 30.276 * 0.87 .
According to the given options, the correct answer is:
The monthly payment $298.21, the total cost of repaying the loan $28,019.62.