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AGummiBear55
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Gilbert is graduating from college in one year, but he will need a loan in the amount of $5,125 for his last two 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 at the time of repayment and by how much?
 one year ago
 one year ago
AGummiBear55 Group Title
Gilbert is graduating from college in one year, but he will need a loan in the amount of $5,125 for his last two 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 at the time of repayment and by how much?
 one year ago
 one year ago

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AGummiBear55 Group TitleBest ResponseYou've already chosen the best response.0
The Stafford Loan has a higher balance by $134.35. The Stafford Loan has a higher balance by $274.36. The PLUS Loan has a higher balance by $54.79. The PLUS Loan has a higher balance by $85.22.
 one year ago

Chlorophyll Group TitleBest ResponseYou've already chosen the best response.1
Stafford: $ 5,673.71 PLUS: $ 5,539.36 > ....
 one year ago

AGummiBear55 Group TitleBest ResponseYou've already chosen the best response.0
so it's A!!!! YAYAYAY!!
 one year ago

AGummiBear55 Group TitleBest ResponseYou've already chosen the best response.0
Thank you so so much!! :) I've been stuck on those questions forrrevverrr until you came along.
 one year ago

AGummiBear55 Group TitleBest ResponseYou've already chosen the best response.0
Thanks. I have to go; dinner's been ready for an hour already and I'm starving... lol. Thanks again.. :)
 one year ago

Chlorophyll Group TitleBest ResponseYou've already chosen the best response.1
You need the scientific calculator to store all the results, the round off won't lead to exact hundredth digit !
 one year ago
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