Accounting word problem?

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Asked at 2012-09-17 20:46:03
Marcus is graduating from college in 18 months, but will need a loan in the amount of $ 14,087 for the last three semesters . Or you may receive an unsubsidized Stafford loan , with an interest rate of 6.8 % , compounded monthly , or their parents can get a PLUS loan , with an interest rate of 7.8 % , compounded monthly . The Stafford loan has a grace period of six months from the time of graduation. What loan will have a better balance in the time of payment and how ? MedlinePlus MedlinePlus MedlinePlus MedlinePlus The PLUS loan has a balance of $ 754.13 higher . MedlinePlus The Stafford Loan has a higher balance $ 303.55 . MedlinePlus The Stafford Loan has a higher balance $ 537.81 . MedlinePlus The PLUS loan has a balance of $ 323.92 higher .
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