Question: 1. In 2014, the average debt for college student loans is $28,700. This amounts to a $330 monthly payment for a "standard" loan repayment plan over 10 years. What monthly interest rate is being charged on this typical student loan?
2. A 45-year-old person wants to accumulate $750,000 by age 70. How much will she need to save each month, starting one month from now, if the interest rate is 0.5% per month?