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You owe $43,500 in student loans when you graduate. You are planning to pay it off in 10 years. The annual interest rate you will be charged is 3.76%.

1. The recurring payment you will need to make if you make annual payments is ___

2. The recurring payments you will need to make if you make monthly payments is ____

3. What is the difference in the total amount of money you pay if you choose annual versus monthly payments (given as a positive number )?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92641393

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