In most cases, payments on student loans are deferred until the borrower graduates, although interest does get added to the principal while the student is in school. If Jaime takes out a student loan for $35,000 in 2012 at 4.1% simple interest and graduates in 4 years, find the monthly payment that would be
required when he graduates if he plans to pay off the loan in 11 years after graduation. Round the answer to the nearest cent.
The monthly payment for Jaime's student loan after he graduates is
X
5