You have graduated from college but unfortunately have $32,000 in outstanding loans. The loans require annual payments of $3,245 which covers interest and principal repayment. If the interest rate is 4 percent, how long will it take you to repay the debt? If the powers that be raise the rate to 6 percent, how many additional years will be required to retire the loans?
Drop an email to email@example.com and get instant access to the solution.
If you are here for the first time, you can request for a discount coupon, which can knock off upto 20% of the quoted price on any service.