A student takes on $50,000 of debt in August 2 of 2020 at an annual interest rate of 8%

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A student takes on $50,000 of debt in August 2 of 2020 at an annual interest rate of 8%. She makes no payments while in school. On November 2, 2024 she prepares to start repaying her debt on a 15-year repayment cycle, and the payment size is calculated. The first payment is made in December 2, 2024, the last one on November 2, 2039. 

2a) How much money will this person owe as of November 2, 2024? Round up to the nearest penny. 

2b) What is the payment size? Round off to the nearest penny. 

2c) On December 2, 2024 she finds herself with an extra $500, which she pays (in addition to the regular payment) toward reducing her debt. Assuming she makes standard payments thereafter, what month (and year) will the final payment be made? 

2d) How much interest did she save herself by making the payment in 2c? Round down to the nearest $10. 

On May 13, 2022, a college graduate takes an interest-only loan of $80,000 at an annual interest rate of 7%. The first payment is scheduled for June 13, 2022. On June 13, 2022, instead of making the regular-size payment, he pays $1,500. Each month after that he makes the regular payment 

3a) What is the size of the payment made on August 13, 2022? 

3b) When will the loan be paid off?