Mathematics, 04.11.2021 14:00, macymichtavy
22. Elbert is graduating from college in eighteen months, but he will need a loan in the amount of
$4,250 for his last three 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 and by how much
at the time of repayment?
Answers: 2
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22. Elbert is graduating from college in eighteen months, but he will need a loan in the amount of...
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