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 525 will pay compared to a household with a credit score of 675.
$4,391
$1,337
$2,604
$3,491

Answer 1

Alright, soy our answer should be 171.9% So what you want the percent increase in the interest paid on an $8000 loan for a credit score of 550 instead of 735 . Make sense?

Answer 2

Wait a damn minute.....What did I even put I was looking at the wrong thing lol

Answer 3

Uno momento

Answer 4

Alright so I screwed up, your answer should be A: $4,391.

Answer 5

thank you :)

Answer 6

No problem ^^