Well wants to pay off his massive student debt as soon as possible. His balance is currently 35,000 but he has the preferable interest rate of 4.75%. If he can throw $500 at the beginning of each month at his debt how long will it take for him to paid off? Between 6 1/2 and seven years almost 9 years less than six years close to five years
Well wants to pay off his massive student debt as soon as possible. His balance is currently 35,000 but he has the preferable interest rate of 4.75%. If he can throw $500 at the beginning of each month at his debt how long will it take for him to paid off? Between 6 1/2 and seven years almost 9 years less than six years close to five years
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Well wants to pay off his massive student debt as soon as possible. His balance is currently 35,000 but he has the preferable interest rate of 4.75%. If he can throw $500 at the beginning of each month at his debt how long will it take for him to paid off?
Between 6 1/2 and seven years
almost 9 years
less than six years
close to five years
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