I need detailed explanation:
Assume you are in repayment on $50,000 in student loans. The
terms of your loan are a 10-year (120 period) repayment term at a
5% annual interest rate (compounded interest).
(a) Assuming you make all your monthly payments
on time, how much will you pay back in total over the lifetime of
this loan?
On March 27, 2020, Congress passed the CARES Act, which, among
other things, automatically placed all student loans currently in
repayment into...