Ask Question
3 December, 13:10

Antonio has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuition.

Each loan had a duration of ten years and interest compounded monthly. Antonio will pay each of them back by making

monthly payments, starting as he graduates. Antonio's loans are detailed in the table below.

Subsidized?

Year

Junior

Senior

Loan Amount ($)

5,894

5,258

Interest Rate (%)

6.9

7.5

Once all of his loans are paid off, what will Antonio's total lifetime cost be? Round all dollar values to the nearest bent.

a $16,246.80

b. $17,804.40

c. $7,593.16

d $9,874.76

+2
Answers (1)
  1. 3 December, 14:35
    0
    a.

    $16,246.80
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Antonio has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuition. Each ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers