Phil has been accepted into a 2 year Radiology Technician Program at school. He has been awarded a $9000 unsubsidized 10 year federal loan at 4.29%. He knows he has the option of beginning repayment of the loan in 2.5 years. He also knows that during this non-payment time, interest will accrure at 4.9%.
how much interest will Phil accrue during the 2.5 year non payment period?