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  3. part 3: student loans 7. morgan recently graduated

Part 3: Student Loans 7. Morgan recently graduated college with their degree and owes (d)...

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Accounting

Part 3: Student Loans 7. Morgan recently graduated college with their degree and owes (d) $____18930______ in student loans with an APR of 4.6% compounded monthly. They are expected to pay off the loan in 15 years. Round answers to two decimal places. a. Under the current terms of their loan, what is Morgans minimum monthly payment? (3 pt) b. What is the total amount Morgan will pay when the loan is complete? (4 pt) c. How much will Morgan pay in interest?

cMorgan decides to pay more than the required minimum monthly amount for their loan to pay off the loan faster. They want to have the loan paid in full after 10 years. Round answers to two decimal places. a. Assuming all the same conditions of the original student loan, what would Morgans new monthly payment need to be if they wanted to pay off the loan in 10 years? (3 pt) b. What is the total amount Morgan will pay if they pay off the loan in 10 years? (4 pt) c. With the 10-year loan, how much will Morgan pay in interest?

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