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anygoal [31]
3 years ago
15

Galvin is graduating from college in eighteen months, but he will need a loan in the amount of $9,875 for his last three semeste

rs. 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?
Mathematics
2 answers:
Colt1911 [192]3 years ago
6 0

Welp, sorry folks, this isn’t it.

/•_____•\


just olya [345]3 years ago
5 0
$11,657

I hope this helps
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Step-by-step explanation:

To find Gavin's share, sum the parts of the ratio, 4 + 1 = 5 parts

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Now repeat the process with the ratio for his family

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