Question

im in consumer math and i need help with three questions.....
2. Interest rates on loans are determined by?
a)Whatever the lender wants to charge
b)your credit profile
c)credit bureaus
d)the amount owed at various times

Answer 1

3.the better your credit profile is, the?
a)lower your interest rate and the less you may borrow
b)higher your interest rate and the less you may borrow
c)lower your interest rate and the more you may borrow
d)higher your interest rate and the more you may borrow

Answer 2

4. You have a loan for $1,000.00 at 7.65% APR. $100.00 of the loan is due each month and there is a penalty of 2% on the original amount when not paid. If you do not pay anything on the loan during the year and assuming there nis no compounding, how much will you owe in total?
a)$1,316.50
b)$1,096.50
c)$1,100.50
d)$1,078.50

Answer 3

i picked b,c,a

Answer 4

am i right?

Answer 5

yeap

Answer 6

i know thanks though

Answer 7

yw