Consider a student that just graduated. This student accumulated student loans of $78,000, all of which carry an interest rate of 3.4%, compounded monthly. You may assume the loans would be paid off over the next 20 years via monthly payments. However, at this very moment, suppose that the government decided to forgive all student loans. This student is naturally overjoyed, but decides to take further advantage of the situation by taking the payment they were expecting to make on the student loans each month and investing in a very safe investment vehicle that returns 2% APR, compounded monthly. 00 a. How much would those student loans have ultimately cost the student (principal + interest) by the time they were paid off? (10 pts) 78.000 = C cfi (1+) b. How much will be in the retirement account at the end of 20 years? (10 pts)