Question

1. Assuming it takes four years to graduate and no payments are made during the deferment period, what is the balance of the loan when it’s time to make the first payment?
B= 17,426(1+0.68/12)^10
B=17,426(1.005666667)^10
B=30,239.72
2. What monthly payment must be made to pay off the loan within 10 years? (You do not have to show your work here.)