8. Rodrigo is attending a 4-year college. As a freshman,
he was approved for a 10-year, federal unsubsidized
student loan in the amount of $5,300 at 4.29%. He
knows he has the option of beginning repayment of
the loan in 4.5 years. He also knows that during this
nonpayment period, interest will accrue at 4.29%.
Suppose he only paid the interest during his 4 years in school and the 6 month grace period . What will he now pay in interest over the term of his loan?
Show work please
15 points