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Consider a student loan of ​$25,000 at a fixed APR of 6​% for 25 years.

 Oct 26, 2020
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N=25*12; R=0.06/12;PV=25000; PMT=PV*R*((1 + R)^N) / ((1 + R)^(N) - 1);print"LOAN PMT =$",PMT

 

LOAN PMT =$ 161.08 - monthly.


 

 Oct 26, 2020

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