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?

Hey! We 've verified this expert answer for you, click below to unlock the details :)

I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!

Stafford: $ 5,673.71
PLUS: $ 5,539.36
-> ....

so it's A!!!! YAYAYAY!!

Looking for something else?

Not the answer you are looking for? Search for more explanations.

## More answers

Looking for something else?

Not the answer you are looking for? Search for more explanations.