Question

Fan and medal

Answer 1

@Cal.lavender

Answer 2

@Valirium

Answer 3

@Destinyyyy @abdumu16 @Kira_Yamato

Answer 4

@Styxer

Answer 5

This is a question on geometric progression/compound interest:
\[A = P \left( 1 + \frac{ r }{ n } \right)^{nt}\]

P = principal amount (the initial amount you borrow)
r = interest rate (as a decimal)
t = number of years the amount is borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year

From the question, you know that P = 6785, n = 12, and you have the respective r for each scheme.

Answer 6

im confused

Answer 7

Ok you know your principal amount, your interest rates & time taken (remember to remove 1.5 from t for Stafford since there is a grace period of 6 months after graduation i.e. 1.5 years from point of question)

Answer 8

Apply Kira's formual to both cases.
What is the principal amount in each case?
What is the interest rate? How do you write that rate as a decimal fraction?
What would be the sum of 1 and the interest rate expressed as such a fraction?
Once you've answered these questions, we can move forward into more detail.