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If you have a combined student loan with two line items:
$38,452 @ 3.5%
$12,451 @ 8.5%
Assuming you never pre-pay, and all your payments are applied proportionally against each loan--like if you pay $50, 38 goes to the first loan and 12 goes to the second--
What is your true combined interest rate over the loan period?
$38,452 @ 3.5%
$12,451 @ 8.5%
Assuming you never pre-pay, and all your payments are applied proportionally against each loan--like if you pay $50, 38 goes to the first loan and 12 goes to the second--
What is your true combined interest rate over the loan period?
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