6
QuizMultiple Choice

Student Loans

Question 6 • 2025-2026 GSP Mathematical Reasoning for Decision Making

Jessica took out a Stafford loan worth $7,175 at the beginning of her six-year college career. The loan has a duration of ten years and an interest rate of 6.3%, compounded monthly. How much greater will Jessica’s monthly payment be if the loan is unsubsidized than if the loan is subsidized? Round all dollar values to the nearest cent.a.$36.98b.$23.07c.$37.67d.$166.37

Answer
A
A
B
B
C
C
D
D
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Jessica took out a Stafford loan worth $7,175 at…