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Helena has taken out a $9,300 unsubsidized stafford loan to pay for her college education. she plans to graduate in four years. the loan has a duration of ten years and an interest rate of 6.4%, compounded monthly. by the time helena graduates, how much greater will the amount of interest capitalized be than the minimum amount that she could pay to prevent interest capitalization? round all dollar values to the nearest cent. a. $238.46 b. $496.00 c. $595.20 d. $324.33

Respuesta :

Answer:

$324.33

Step-by-step explanation:

the answer is $324.33

The amount of interest capitalized is greater than the minimum amount that she could pay to prevent interest capitalization by; D: $324.33

What is the minimum Principal?

We will use the formula: A = P(1 + r/n)^(nt)

Where:

A = final amount

P = initial principal ($9300)

r = interest rate (6.4% or 0.064)

n = number of times interest applied per time period

t = number of time period elapsed.

Thus;

9300(1 + 0.064/12)^(12*4) - 9300 = $2705.13

Also;

9300(0.064/12) * 4 * 12 = $2380.8

Answer = $2705.13 - $2380.8

Answer = $324.33

Read more about Principal amount at; https://brainly.com/question/25545513

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