Mathematics, 12.12.2020 20:10, cesarcastellan9

Mark is graduating from college in six months, but he will need a loan in the amount of $7,038 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 obtain 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: 3

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Mark is graduating from college in six months, but he will need a loan in the amount of $7,038 for h...