What yearly salary do you need to make so that 8% of your salary will repay 12% of a $20,000 student loan each year? (Assume that $20,000 is the current amount when payment begins and this same amount will be paid each year, regardless of the new total of the loan.)(1 point)

Question

Responses

$30,000
$30,000

$13,333
$13,333

$20,000
$20,000

$250,000

Answer 1

$13,333