Determine difference between interest paid of given options, Accounting Basics

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Determine difference between interest paid of given options

Problem

Jolene has the option of a 11-year unsubsidized student loan of $35,000 at an annual interest rate of 3.1%. She starts her repayments 4 years after graduation or of a 10-year PLUS Loan of $35,000 at an annual interest rate of 3% to attend law school for her 3 years, and she starts making payments 3 years after obtaining the loan. Determine the difference between the interest paid of the given options?

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Accounting Basics: Determine difference between interest paid of given options

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Accounting Basics: Determine difference between interest paid of given options

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