Julia is borrowing some money to help her get supplies to complete her art degree. She would like to keep her payments low but pay off the loan before she graduates in three years. Which option would allow her to meet both these goals quickly?
The mot realistic option for Julia would be to get a job on the side which would allow her to keep making her payments and borrow less money or generally a lower amount so that she could really pay it off in three years.
12 months is a year. She wants to pay it off in 3 years or less. She also wants to pay the smallest amount that she can and still pay it off in 3 years before she graduates. The answer is 36 months.
