What will be your monthly payment

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Reference no: EM131981423

1. Assume you graduate from college with $28,000 in student loans. If your interest rate is fixed at 5.00% APR with monthly compounding and you repay the loans over a 10-year period, what will be your monthly payment?

2. Ironwood Bank is offering a 25-year mortgage with an APR of 6.15% based on monthly compounding. If you plan to borrow $169,000, what will be your monthly payment?

Reference no: EM131981423

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