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Mathematics
philly:

Your parents are purchasing a mobile home for $89,000. The sales tax is 4.2%, they make a $3,000 down payment. How much more interest do your parents have to pay at the end of the first month because their rating is good rather than excellent?

ramen:

why the "rating is good rather than excellent bit"

lowkey:

You're missing a huge detail.

lowkey:

Secured Unsecured Credit APR (%) APR (%) Excellent 4.75 5.50 Good 5.00 5.90 Average 5.85 6.75 Fair 6.40 7.25 Poor 7.50 8.40 $29.39 $21.10 $18.71 $19.02

TheSmartOne:

because depending on their credit, they'd have to pay a different interest rate

ramen:

ok good to know for the future. thanks

TheSmartOne:

Feel like there's missing information tho... I'd assume it's an unsecured loan since there's no information to prove that it is a secured loan But how long is the loan term and so how much is the monthly payment

venessak:

Oh yeah that's true there is something missing