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Solve the Problem. -Suppose You Have a Student Loan of $100,000 with an $100,000

Question 214

Multiple Choice

Solve the problem.
-Suppose you have a student loan of $100,000 with an APR of 7% for 25 years. If you decide you would like to pay off the loan in 10 years instead of 25, how much more will you have to pay each
Month?


A) $478.30
B) $464.30
C) $470.30
D) $454.30

Correct Answer:

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