The Cost of College and Loans
Algebra 2 Fundamentals - Chapter 8 mini project
UCLA will cost me $ 35, 557 per year!
University of Hawaii will cost me $20,304 per year. Yikes!
UCLA will cost me $81,216 for 4 years. After my scholarships and income from my summer job my loans need to total $31,216
University of Hawaii will cost me $142,228 for 4 years. After my scholarships and income from my summer job, my loans need to total $92,228.
Name of Loan - Private Loan Amount Borrowed - $92,228 Equation - Y=a(1+r)^x - Y=92228(1.08)^x Total Amount the Loan Will Cost after 10 years - $199,133
Name of Loan - Federal Direct Amount Borrowed - $31,216 Equation - Y=a(1+r)^x - Y=31216(1.07)^x Total Amount the Loan Will Cost after 10 years - $61,406.60
28179.97=22240(1+.03)^x / 22240 Xlog1.03= log1.26708 / log1.03 It took Mr. Marvin x years to pay off his loans.
36443.70=24828(1+.0325)^x / 24828 Xlog1.0325=log1.4678 / log1.0325 It took Mrs. Meloche x years to pay off her loans.
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