If you need to take out a $50,000 student loan 2 years before graduating, which loan option will result in the lowest overall cost to you: a subsidized loan with 7.5% interest for 10 years, a federal unsubsidized loan with 5.9% 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? B) Find the total cost of the unsubsidized loan? C) Find the total cost of the private loan? D)Which loan has the overall lowest cost, and how much would you save over the other options? E) How much would the the subsidized loan save you over the federal unsubsidized loan? and how much would the private loan save you?
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
If you need to take out a
student loan
years before graduating, which loan option will result in the lowest overall cost to you: a subsidized loan with
interest for
years, a federal unsubsidized loan with
interest for
years, or a private loan with
interest and a term of
years? How much would you save over the other options? All payments are deferred for
months after graduation and the interest is capitalized.
A) Find the total cost of the subsidized loan?
B) Find the total cost of the unsubsidized loan?
C) Find the total cost of the private loan?
D)Which loan has the overall lowest cost, and how much would you save over the other options?
E) How much would the the subsidized loan save you over the federal unsubsidized loan? and how much would the private loan save you?
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