Question

(Student Loans LC)

A student is graduating from college in 18 months but will need a loan in the amount of $7,855 for the three remaining semesters. The student may either receive an unsubsidized or subsidized Stafford Loan. The terms of each loan are:

Unsubsidized Stafford Loan: annual interest rate of 3.7%, compounded monthly

Subsidized Stafford Loan: annual interest rate of 4.7%, compounded monthly

What is the difference in the balance of the two loans at the time of graduation?

$427.60
$302.57
$890.95
$447.57

Answer 1

we can cross out c

Answer 2

Correct. Any others you think we can cross out?

Answer 3

b?

Answer 4

yes, B is too small.

Answer 5

so how figure this one out?

Answer 6

Alright so this ones a little trickey so let me see real quick

Answer 7

kk

Answer 8

Hm, so I'm not really sure how to explain it so, I'll let you "guess" for this one and tell you if it's right.

Answer 9

d?

Answer 10

Correct.

Answer 11

wow lol

Answer 12

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