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If you need to take out a $40,000 student loan 2 years before graduating, which loan option will result in the lowest overall cost to
If you need to take out a $40,000 student loan 2 years before graduating, which loan option will result in the lowest overall cost to you: a subsidized loan with 6.6% interest for 10 years, a federal unsubsidized loan with 6.4% interest for 10 years, or a private loan with 5.0% interest and a term of 16 years? How much would you save over the other options? All payments are deferred for 6 months after graduation and the interest is capitalized. Part: 0/5 Part 1 of 5 (a) Find the total cost of the subsidized loan. The total cost of the subsidized loan is $. Round your answer to two decimal places, if necessary. Part: 1/5 Part 2 of 5 (b) Find the total cost of the federal unsubsidized loan. The total cost of the federal unsubsidized loan is $. Round your answer to two decimal places, if necessary. Part: 2/5 Part 3 of 5 (c) Find the total cost of the private loan. The total cost of the private loan is $. Round your answer to two decimal places, if necessary
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