Discuss what is the monthly payment, Microeconomics

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Discuss what is the monthly payment

Problem

A student loan totals $18,000 at graduation. The interest rate is 6%, and there will be 60 payments beginning 1 month after graduation. What is the monthly payment? What is owed after the first 2 years of payments?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Discuss what is the monthly payment

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