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QUESTION

You have an outstanding student loan with required payments of per month for the next years. the interest rate on the loan is apr​ (compounded monthly). now that you realize your best investment is

You have an outstanding student loan with required payments of per month for the next years. the interest rate on the loan is apr​ (compounded monthly). now that you realize your best investment is to prepay your student​ loan, you decide to prepay as much as you can each month. looking at your​ budget, you can afford to pay an extra a month in addition to your required monthly payments of or in total each month. how long will it take you to pay off the​ loan?

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