Grad Students are incurring hundreds of thousands of dollars in student loans. They must know something! So, you follow their lead and run up $45,000 in debt by the time you graduate with a 4-year degree. Having to take Fin341 more than once didn't help. SoFi bank is kind enough to facilitate this loan at a 5.8% annual rate, compounded monthly. Now that you're working, you feel that the most you can afford to pay $450 per month. At this repayment rate; you will pay this debt off in: Group of answer choices a little over 11 years more than 30 years a little over 22 years 5.6 years
Grad Students are incurring hundreds of thousands of dollars in student loans. They must know something! So, you follow their lead and run up $45,000 in debt by the time you graduate with a 4-year degree. Having to take Fin341 more than once didn't help. SoFi bank is kind enough to facilitate this loan at a 5.8% annual rate, compounded monthly. Now that you're working, you feel that the most you can afford to pay $450 per month. At this repayment rate; you will pay this debt off in: Group of answer choices a little over 11 years more than 30 years a little over 22 years 5.6 years
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Grad Students are incurring hundreds of thousands of dollars in student loans. They must know something! So, you follow their lead and run up $45,000 in debt by the time you graduate with a 4-year degree. Having to take Fin341 more than once didn't help. SoFi bank is kind enough to facilitate this loan at a 5.8% annual rate, compounded monthly. Now that you're working, you feel that the most you can afford to pay $450 per month. At this repayment rate; you will pay this debt off in: Group of answer choices a little over 11 years more than 30 years a little over 22 years 5.6 years
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