Mathematics, 22.02.2020 07:59, tk1264

Katrina has the option of an 8-year non-subsidized student loan of $32,000 at an annual interest rate of 3.5% or an 8-year subsidized loan of $32,000 at an annual interest rate of 4.5%. Determine for which loan Katrina will pay less interest over the term of the loan if she starts making payments 2 years after obtaining the loan. (Assume Katrina makes monthly payments for each loan. For each answer, enter a number. Round your answers to the nearest cent, as appropriate.)

The total interest paid (in dollars) on the non-subsidized loan is $

The total interest paid (in dollars) on the subsidized loan is $

Answers: 3

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Katrina has the option of an 8-year non-subsidized student loan of $32,000 at an annual interest rat...