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A. This is your last semester of school and it is time to start considering you student loan balance. You have borrowed $44,000 with a stated annual rate of 6% for 10 years (monthly payments). Your monthly payments will be? N=? ; i/y=?; PV=?; PMT=? FV=?

B. If you decided instead to pay out the amount you owe after the 84th payment with one lump sum payment, how much would it be? N=? ; i/y=?; PV=?; PMT=? FV=?

C. If you decide that you want to be free from this debt in 7 years (after the 84th payment) how much extra would you have to send the bank each month to retire this debt? N=? ; i/y=?; PV=?; PMT=? FV=?

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Financial Management, Finance

Category:- Financial Management
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