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Total payment over the term of the loan

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Reference no: EM131854870

Consider a student loan of 15,000 at a fixed APR of 12?% for 30 years.

a. The monthly payment is ?154.2

b. The total payment over the term of the loan is 55,545.08.

c. Of the total payment over the term of the? loan, ____% is paid toward the principal an ___% is paid toward interest

Reference no: EM131854870

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