Determining monthly payment of student loan

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Reference no: EM13117641

Suppose that you have student loan of $80,000 with an APR of 7% for 30 years. If you decide to pay off the loan in 20 years instead of 30. how much more would you have to pay each month?

A. $112.00

B. $103.00

C. $98.00

D. $88.00

Reference no: EM13117641

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