Kaitlyn owes 36,000 in student loans. the interest rate on her loans is 7.5% she will be paying these loans off in 25 years. how much in dollars will she pay altogether?

Solution

Kaitlyn owes 36, 000 in student loans. the interest rate on her loans is 7.5% she will be paying these loans off in 25 years. how much in dollars will she pay altogether?

Solution

Amount : 103500

Solution steps

Translate the problem into an equation:

A = 36000 (1 + 0.075 \cdot 25)

36000 (1 + 0.075 \cdot 25) = 103500

Amount : 103500

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