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?
why the "rating is good rather than excellent bit"
You're missing a huge detail.
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
because depending on their credit, they'd have to pay a different interest rate
ok good to know for the future. thanks
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
Oh yeah that's true there is something missing