Ms. Tanner has just graduated from the University of Edmonton. She owed approximately $67,000 in student loans. She has 10 years to pay off her student loans, starting one year from now. The interest rate on her student loans is 8%. How much must Ms. Tanner pay each year? Multiple Choice $6,700.00 $12,558.75 $5,858.75 $4,624.98 $9,984.98

Ms. Tanner has just graduated from the University of Edmonton. She owed approximately $67,000 in student loans. She has 10 years to pay off her student loans, starting one year from now. The interest rate on her student loans is 8%. How much must Ms. Tanner pay each year? Multiple Choice $6,700.00 $12,558.75 $5,858.75 $4,624.98 $9,984.98

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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