You estimate that you will owe $40,200 in student loans by the time you graduate. If you want to have this debt paid in full within 10 years, how much must you pay each month if the interest rate is 4.35 percent, compounded monthly

$413.73

Explanation:

The amount that i will pay per month for the period of 10 years in order to paid the debt of the $40,200 shall be determined through the present value of annuity formula which is given as follows:

Amount borrowed by me=present value of annuity=R[(1-(1+i)^-n)/i}

In the given question

Amount borrowed by me=present value of annuity=$40,200

R=amount to be paid per month

i=interest rate compounded monthly=4.35/12=0.3625%

n=number of payments involved=10*12=120

Amount borrowed by me=present value of annuity=R[(1-(1+i)^-n)/i]

$40,200=R[(1-(1+0.3625%)^-120)/0.3625%]

R=$413.73

d. automatic stabilizers.

explanation:

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.