Consider a student loan of $15,000 at a fixed APR of 9 9 % for 20 20 years. 9 % for 20 20 years. Calculate the monthly payment. Determine the total...
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Consider a student loan of


$15,000 at a fixed APR of 9


9​% for 20


20 years.

9​% for 20


20 years.

a. Calculate the monthly payment.

b. Determine the total amount paid over the term of the loan.

c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for interest.

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