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kompoz [17]
3 years ago
7

Edgar has taken out a $6,250 unsubsidized Stafford loan to fund his four-year undergraduate degree. The loan has a duration of 1

0 years and an interest rate of 6.1%, compounded monthly. How much interest capitalization will have accrued by the time Edgar graduates? Round all dollar values to the nearest cent.
a.
$1,670.30
b.
$1,722.22
c.
$664.35
d.
$1,524.96


Please select the best answer from the choices provided.

A
B
C
D
Mathematics
1 answer:
maw [93]3 years ago
6 0

Answer:

the answer is B. 1,722.22

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