The monthly payment by ignoring intrest and rouning down the amount owed is $104
Given that "you have a $3125 student loan. suppose you pay the loan off in two and a half years(30 months)" and asked to find out the monthly payment by ignoring the intrest and round off the amount to nearest integer.
Total loan=$3125 .
Total time given= two and a half years(30 months)
The monthly payment=[tex]\frac{3125 }{30}[/tex]
The monthly payment=$104
To complete the student loan monthly payment of $104 is required.
Therefore,The monthly payment by ignoring intrest and rouning down the amount owed is $104
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