How many years will it take aguilar to repay his loan

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Reference no: EM131462148

Aguilar works for BP3 which uses a platform called Student Loan Genius to let it match $100 per month in Aguilar’s debt payments. So now monthly payment will be 898.83 plus 100. If the interest rate charged by the bank is still 7% compounded monthly and the amount of student loan being still $100,000, how many years will it take Aguilar to repay his loan? Hint: use the following steps. Use function “nper” in excel; Since there are 12 months in one year, divide the number obtained in step 4 by 12 in order to calculate the number of years.

Reference no: EM131462148

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