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ally7343
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Matthew is graduating from college in two years, but he will need a loan in the amount of $21,059 for his last four semesters. He may either receive an unsubsidized Stafford Loan with an interest rate of 6.8%, compounded monthly, or his parents may obtain 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
ally7343 Group Title
Matthew is graduating from college in two years, but he will need a loan in the amount of $21,059 for his last four semesters. He may either receive an unsubsidized Stafford Loan with an interest rate of 6.8%, compounded monthly, or his parents may obtain 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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