Mathematics, 06.11.2020 15:10, krystinayagel013
Garrett is graduating from college in twelve months, but he will need a loan in the amount of $6,785 for his last two semesters. 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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Garrett is graduating from college in twelve months, but he will need a loan in the amount of $6,785...
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