Assume you graduate from college with $35,000 in student loans. If your interest rate is fixed at 4.66% APR with monthly compounding and you repay the loans over a 10-year period, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.)Your monthly payment will be $ rest ratediateAssume you graduate from college with $35,000 in student loans. If your interest rate is fixed at 4.66% APR with monthly compounding and you repay the loansover a 10-year period, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.)e of the aettYour monthly payment will be $(Round to the nearest cent.)aduate frormonth

Monthly payment = PV/(1-(1+i)-n)/i Where PV - Loan amount i.e. $35,000 i - Interest rate i.e.…

Assume you graduate from college with $35,000 in student loans. If your interest rate is fixed at 4.66% APR with monthly compounding and you repay the loans over a 10-year period, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $

Assume you graduate from college with $35,000 in student loans. If your interest rate is fixed at 4.66% APR with monthly compounding and you repay the loans over a 10-year period, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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