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What is her monthly payment if she wants to repay the loan

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1. In the last problem, assume that the first investment offers 3.75 % compounded continuously. Determine the time it will take for the investment to grow to
$60,000.

2. A student finishes her college after accumulating a $30,000 federally backed student loan over 4 years. The loan charges 3.5 % interest compounded monthly. What is her monthly payment if she wants to repay the loan (amortize) over the next 6 years?

Reference no: EM13876791

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