A physician assistant student loan balance will be reduced by 12% and payments will be postponed each year that the physician assistance works in a designated high needed area c a m e r o n is a physician assistant c a m e r o n has a 60,000 student loan balance when they graduate c a m e r o n works in a designated high needed area for two years and makes no long payment what is c a m e r o n s student loan balance at the end of 2 years a 52,800 b13,536 c 45,600 d $46,464
The correct answer is c) $45,600.
After working in the designated high-needs area for two years, the loan balance will be reduced by 12% each year, so after two years, the loan balance will be 0.88 * 0.88 * $60,000 = $45,568.00, which rounds up to $45,600.
You sure
Apologies for the oversight in my previous response. Let's correct this:
After working in the designated high-needs area for two years, the loan balance will be reduced by 12% each year. So, after the first year, the loan balance will be $60,000 * 0.88 = $52,800.
After the second year, the loan balance will be reduced again by 12%, so it will be $52,800 * 0.88 = $46,464.
Therefore, Cameron's student loan balance at the end of two years would be $46,464. So, the correct answer is d) $46,464.