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

Question

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] · Answer 1 · 2022-08-30T13:19:36+03:00

Colt1911 [192]3 years ago

6 0

Welp, sorry folks, this isn’t it.

/•_____•\

just olya [345] · Answer 2 · 2022-08-30T12:03:25+03:00

just olya [345]3 years ago

5 0

$11,657

I hope this helps