Suppose you borrow 6000 in student loans at a 5 percent, Business Economics

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Suppose you borrow 6000 in student loans at a 5 percent

Suppose you borrow $6,000 in student loans at a 5 percent annual interest rate in 2013.

a. How much will you owe after 10 years of accumulating debt?

b. If inflation is 6 percent per year over this period, how much will you owe after 10 years in real 2013 dollars?

c. Who is the loser in this scenario, you or the bank?

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Business Economics: Suppose you borrow 6000 in student loans at a 5 percent

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Business Economics: Suppose you borrow 6000 in student loans at a 5 percent

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