Gertrude takes out a $5,500 subsidized Stafford loan, which must be paid back in ten years. Gertrude will graduate four years after taking out the loan. If the loan has an interest rate of 6.8%, compounded monthly, and Gertrude makes monthly payments, how much interest will she pay by the time the loan is repaid? Round all dollar values to the nearest cent. 

Answer rating: 100% (QA)

To calculate the total interest paid by Gertrude on her 5500 subsidized Stafford loan with a 68 ... View the full answer