403, 892 in expanded form
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The Viola’s monthly payment more than the loan is unsubsidized than if the loan is subsidized is $35.05.
<h3>What is compound interest?</h3>Compound interest is the amount charged on the principal amount and the accumulated interest with a fixed rate of interest for a time period.
The formula for the final amount with the compound interest formula can be given as,
Here, A is the final amount (principal plus interest amount) on the principal amount P of with the rate r of in the time period of t.
Viola took out a $8,470 Stafford loan at the beginning of her four-year college career. The loan has a duration of ten years and an interest rate of 7. 5%, compounded monthly.
Put this values in the above formula as,
For the four years, the monthly payment is,
The monthly payment of unsubsidized loan is $237.97.
The monthly payment of subsidized loan is $202.80.
The difference between the unsubsidized and subsidized loan monthly payment is,
Thus, the Viola’s monthly payment more than the loan is unsubsidized than if the loan is subsidized is $35.05.
Learn more about the compound interest here;
Answer:
Step-by-step explanation:
1) First, find the slope of the line. Take two points the line intersects and use them for the slope formula, . We already know the line intersects (-4, -2). Just choose any one of the points you can see the line intersecting (in this case, I chose (0,3)) and plug in its values, too. Then solve:
So, the slope is .
2) Now that you have the slope, plug in values for the point-slope formula, . In order to write a linear equation with it, the
,
, and
have to be substituted for with real values. The
represents the slope - which means that we should place
there. The
and
represent the x and y values of a point - and the questions wants us to use (-4, -2), so substitute -4 for
and -2 for
:
Thus, the answer is .