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Problem

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Textbook Expert
Textbook ExpertVerified Tutor
21 Dec 2021

Given information

The total cost of repaying a student loan at an interest rate of per year is

Step-by-step explanation

Step 1.
When interest rate rises, the cost goes up by greater amount, so   is always positive. If   would be negative, then the cost would go up by lower amount as the interest rate   would rise.
 
 
When interest rate rises, the cost goes up by greater amount, so is always positive.

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