Suppose you have just graduated and hae a student loan balance of $$4,000.$ The interest rate on your loan is $6$ percent. You have also accumulated a credit card balance of $$1,000,$ at an annual interest rate of $14$ percent. You just got a graduation gift of $$500$ that you've decided to use toward either your student loan debt or your credit card debt.

Instructions: Enter your answers as a whole number.

a$.$ If you use the full $$500$ for your student loan, what will your student loan balance be in one year? Assume no additional student loan payments during this time.

$ $3710$ Numeric ResponseEdit Unavailable. $3710$ correct.

What will your credit card balance be in one year? Assume no additional credit card payments during this time.

$ $1140$ Numeric ResponseEdit Unavailable. $1140$ correct.

b$.$ If you put the full $$500$ toward your credit card, what will your student loan balance be in one year? Assume no additional student loan payments during this time.

$ $4240$ Numeric ResponseEdit Unavailable. $4240$ correct.

What will your credit card balance be in one year? Assume no additional credit card payments during this time.

$ $570$ Numeric ResponseEdit Unavailable. $570$ correct.

c$.$ In one year, how much money will you have lost if you put the $$500$ toward your student loan compared to paying down your credit card?

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