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OpenStudy (anonymous):
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. How much more will Viola’s monthly payment be if the loan is unsubsidized than if the loan is subsidized? Round all dollar values to the nearest cent
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OpenStudy (anonymous):
If "subsidized" = no interest, then get that payment by dividing total loan by total number of months, 120, to get monthly rate. Getting cost per month of the other loan depends on how they want her to "amortize" it. Check text for formula.
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