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Alexeev081 [22]
3 years ago
5

Not all doctors are rolling in money. By the time they finished their education, most would- be doctors are buried under a mount

ain of debt. At Michigan State University’s Medical school, average student debt at graduation is $160,937. That kind of debt discourages students from going into much- needed but lower- paying medical careers, including primary care.
Business
1 answer:
natta225 [31]3 years ago
8 0

Answer/Explanation:

In the statement given the problem is specified as the discouragement for med students to take lower paying but needed jobs because of the high student debt. This issue has been analyzed from several sectors of society and even by professionals in other areas that experience similar situations.

Some of the solutions proposed for this problem are to make higher education free of cost or partially subsided by the government (like it is in other countries).

Other Sources mention collages should have lower fees. However, there are further implications in this subject that need to be considered.

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Answer:

Total amount= $2,055.38

Explanation:

Simple interest is defined as the amount that a lender charges the borrower for the funds collected. The borrower pays back the principal collected and the interest to the lender.

Simple interest is calculated as principal multiplied by time multiplied by interest rate.

Interest= principal * time * rate

Interest= 1,890* 2.5* 0.035

Interest= $165.375

Therefore total amount of money in the account is

Total amount= principal + Interest

Total amount= 1890+ 165.375

Total amount= $2,055.375~ $2,055.38

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