There are different kinds of loans you can use for college loans. We had to research the difference between government subsidized, unsubsidized, and bank loans. When I researched this I found out that the main difference between subsidized loans and unsubsidized loans is that the federal government pays the interest on subsidized loans during periods of authorized deferment. This meaning while you go to school the government will pay your interest until you graduate. The interest rate for subsidized loans and unsubsidized is 4.66%. A bank loan has a variable loan and a fixed loan. A variable loan fluctuates based on market conditions and a fixed loan will stay at the same rate until you pay it off. The interest rate for the fixed loan is 6.39%. Our teacher wanted us to use the equation A=P(1+R)^t to figure out if we borrowed $20,000 from the bank how much we would have to pay monthly over 15 years to fully pay it off. We figured out that you would be paying $220 every month to pay off your $20,000 loans. With all the interest included you would be paying a total of 39,604 dollars total. We found out that the more you spread out your payments, the higher the total cost will be. The good thing is that you about a few dollars less a month but you end up paying more all together.
It would take 42 folds for it to reach the moon. This is unrealistic because you can not fold a piece of paper 42 times because the thickness of the paper will be way too thick to even be able to fold it. In class the most we could fold a regular size computer paper was 6 times, Imagine trying to fold it 42 times. The stacks of the paper would be super tiny if you folded it that many times. In fact, you wouldn't even be able to see it. This does matter because if you can not see it then you do not know if the paper reached the moon or not.
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March 2015
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