Solve the problem. Round to the nearest cent.While you are going to school, you take out student loans to pay for your education. Some of these loans are subsidized, meaning that you will not be charged interest while you are in school. Other loans are unsubsidized, and begin charging interest immediately. You received $8,000 in unsubsidized student loans during your first semester of school. If this loan compounds daily at an APR of 4.5%, a. How much will you need to repay after 4 years of college? (Use a 365 day year)b. How much will you owe in interest?
A. a. $11,466.38
b. $3,466.38
B. a. $9,540.15
b. $1,540.15
C. a. $8,000
b. $0
D. a. $9,577.63
b. $1,577.63
Answer: D
Mathematics
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