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Consider a student loan of ​$20 comma 00020,000 at a fixed APR of 66​% for 1515...

Consider a student loan of

​$20 comma 00020,000

at a fixed APR of

66​%

for

1515

years.

a. Calculate the monthly payment.

b. Determine the total amount paid over the term of the loan.

c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for interest.

What is the monthly payment?

Math   Statistics-And-Probability   
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