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Calculate help repayment liability

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Reference no: EM132519173

David had studied MPA and received HELP loan of $12,000. David did not earn above the compulsory repayment threshold, therefore he has not repaid his loan yet. However, his repayment income for the current year is $53,000, and he is required to pay back portion of his HELP loan.

Question 1: Calculate HELP repayment liability. How much would he have to pay if his HELP loan was only $1,050?

Reference no: EM132519173

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