Mathematics, 02.11.2020 21:00 andr8aa
Gad is graduating from college in six months, but he will need a loan in the amount of $8,375 for his last
semester. He may either receive an unsubsidized Stafford Loan with an interest rate of 6.8%,
compounded monthly, or his parents may get a PLUS Loan with an interest rate of 7.8%, compounded
monthly. The Stafford Loan has a grace period of six months from the time of graduation. Which loan will
have a higher balance at the time of repayment and by how much?
Answers: 2
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Gad is graduating from college in six months, but he will need a loan in the amount of $8,375 for hi...
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