A student graduates from college with a 58000 student loan, with an 8.8% annual simple interest rate. In order to reduce the debt as quickly as possible, beginning next month he is going to pay $900...


A student graduates from college with a 58000 student loan, with an 8.8% annual simple interest rate. In order to reduce the debt as quickly as possible, beginning next month he is going to pay $900 per month towards the loan.


After the first payment, how much will he owe on the loan?



Jun 04, 2022
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