Helena has taken out a $9,300 unsubsidized Stafford loan to pay for her college education. She plans to graduate in fc years. The loan has a duration of ten years and an interest rate of 6.4%, compounded monthly. By the time Helena
graduates, how much greater will the amount of interest capitalized be than the minimum amount that she could pay to
prevent interest capitalization? Round all dollar values to the nearest cent.
$238.46
$496.00
$595.20
d. $324.33
a.
b.
C.