Answered

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If you need to take out a $10,000 student loan 2 years before graduating, which loan option will result in the lowest overall cost to you: a subsidized loan with 6.8% interest for 10 years, a federal unsubsidized loan with 6.3% interest for 10 years, or a private loan with 5.0% interest and a term of 15 years? How much would you save over the other options? All payments are deferred for 6 months after graduation and the interest is capitalized.

a) Find the total cost of the subsidized loan.

The total cost of the subsidized loan is $. Round your answer to two decimal places, if necessary.

Sagot :

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