en has the option of 6 years now subsidized student loan of $31000 at an annual interest  rate of 5.4% or a 6 years non subsidized loan of $29000 at an annual interest rate of 4.7%. Assuming he graduate in 3 years determine the difference between the interest paid.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
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Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Ben has the option of 6 years now subsidized student loan of $31000 at an annual interest  rate of 5.4% or a 6 years non subsidized loan of $29000 at an annual interest rate of 4.7%. Assuming he graduate in 3 years determine the difference between the interest paid.

 

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