Question

Using an online loan calculator, calculate the fixed monthly payment and the total cost of repaying a $25,000 student loan with a 5.6% Exed annual interest rate compounded monthly and a 7-year loan term. (1 point)

The monthly payment $300, 44, and the total cost of repaying the kan is $5.278.87.

The monthly payment $303 58, and the total cost of resting the loan is $25,400.03

The monthly payment $298.21, the total cost of reptying the loan 82801962

The moment $350 44, and the total cost of repaying the loan is \$ 30.276 * 0.87 .
Answered by GPT 3.5
According to the given options, the correct answer is:

The monthly payment $298.21, the total cost of repaying the loan $28,019.62.
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