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.
a.
$35.05
b.
$45.94
c.
$96.96
d.
$63.52

a. $35.05

Step-by-step explanation:

Subsidized means that the loan is need based, so there is no interest while in school. Unsubsidized means that it is not need based, and thus Viola is responsible for all interest during school.

step-by-step explanation:

step-by-step explanation:

12: 00 p.m. to 7: 00 p.m. is a total of 7 hours.

4: 00 p.m. to 7: 00 p.m. is a total of 3 hours.

this means that from 4: 00 p.m to 7: 00 p.m. this represents 3/7 of what was lost from 12: 00 p.m. to 7: 00 p.m.

after knowing this, after doing 11,600 - 6,800 = 4,800

4,800 represents 3/7 of what was lost for 7 hours.

we then divide 4,800 by 3 which gets 1,600.

because we know that 1,600 represents 1/7 of how much water was lost, we just have to multiply by 7, which gets 11,200.   after adding 11,200 to how much water was left at 7: 00 p.m. which was 6,800. 11,200 + 6,800 = 18,000

this means that the pool originally had 18,000 gallons in the pool.

you can also check your work by doing 18,000 - 4(1600), which becomes           1800 - 6400 which gets you 11,600.