Question

(Credit Scores MC)

Review the information given based on a principal balance of $8,000 to answer the question:


FICO Score Simple Interest Rate Total # of Payments Total Amount Paid
800–850 12% 29 $9,256.00
740–799 15% 33 $9,812.00
670–739 18% 38 $10,554.00
580–669 21% 48 $11,891.00
300–579 28% 60 $14,945.00


Calculate how much more a household with a credit score of 580 will pay compared to a household with a credit score of 750.
$2,709
$2,635
$2,079
$4,683

Answer 1

a household with a credit score of 525 would pay $4,280.82 more than a household with a credit score of 675 for a principal balance of $8,000.

Answer 2

I'll explain in a moment

Answer 3

Oh wait my math was wrong.

Answer 4

I need to recalculate.

Answer 5

ok

Answer 6

I'm actually not completely sur eon this.

Answer 7

@midnight97

Answer 8

This hurts my brain.

Answer 9

@oliver69

Answer 10

but since I miscalculated I'm going to go with D since the second number is higher 0-0

Answer 11

sorry, im back. and thank you :)