Business, 10.11.2020 21:20, lunarStudios123
Antonio has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuition. Each loan had a duration of ten years and interest compounded monthly. Antonio will pay each of them back by making monthly payments, starting as he graduates. Antonio’s loans are detailed in the table below. Year Loan Amount ($) Interest Rate (%) Subsidized? Junior 5,894 6.9 Y Senior 5,258 7.5 N Once all of his loans are paid off, what will Antonio’s total lifetime cost be? Round all dollar values to the nearest cent. a. $16,246.80 b. $17,804.40 c. $7,593.16 d. $9,874.76
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Antonio has just graduated from four years of college. For the last two years, he took out a Staffor...
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