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Kate took out a subsidized Stafford loan worth $9,710 to pay for college.  The interest rate on the loan was 5.9%, compounded monthly. It took Kate 5 years to pay off the loan after graduation.  What portion of the total amount she paid represented the interest? 

Verified Answer :

If Kate took out a loan of $9,710 and it took her 5 years to pay off she would have to pay 60 months of interest. Given that, the interest rate of 5.9% would of been $572.89 the first month. Use this information to find the answer. 

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AJKJ

Answer:

c

Step-by-step explanation:

e2021

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