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Consider a student loan of $17,500 at a fixed APR of 9% for 25 years. Calculate the monthly payment, determine the total amount paid over the term of the loan, and of the total amount paid, what percentage is paid towards the
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Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans.
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I am having problems with this question in my math class. Consider a student loan of $25,000.00 at a fixed APR of 12% for 25 years. a. Calculate the monthly payment. The monthly payment is $263.31 b. Determine the total amount
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This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $108,123
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