Edgar has taken out a $6,250 unsubsidized stafford loan to fund his four-year undergraduate degree. the loan has a duration of 10 years and an interest rate of 6.1%, compounded monthly. how much interest capitalization will have accrued by the time edgar graduates? round all dollar values to the nearest cent.
a. $1,670.30
b. $1,722.22
c. $664.35
d. $1,524.96
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