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Alex estimates that he will have $47,500 in student loans by the time he graduates. The...

Alex estimates that he will have $47,500 in student loans by the time he graduates. The interest rate is 7.2 percent, compounded monthly. If he wants to have this debt paid in full within 5 years following graduation, how much must he pay each month?

$745.69

$873.65

$945.05

$741.67

$980.40

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