h1ah3nijaaricagothya
Answered

  1. A(n) _____ shows you the schedule of payments on a loan and the total

interest and payments at the end of the loan.

Apayoff table
Bamortization table
Cpayment table
Dinterest table

  1. Secured debts must have _____.
Acollateral
Breal property
Clow interest rates
Dcertified lenders

  1. Using the table, where does the smallest change in interest rates between

secured and unsecured occur?

ASecured

BUnsecured

CCredit

DAPR

APR

4.75%


5.50%



Good


5.00%


5.90%



Average


5.85%


6.75%



Fair


6.40%


7.25%



Poor


7.50%


8.40%


at the excellent rating

Aat the good rating
Bat the average rating
Cat the fair rating

  1. You are purchasing a car for $12,985.00 with the help of your parents. How much interest is saved in the first month by you using their good credit rating compared to your fair credit rating, using the table above?

Review Guidelines:


(12985) (0.014) 1/12 = 15.14916666 = $15.15

A$14.61
B$54.10
C$15.15
D$69.25

Verified Answer :

taskmasters
  1. A(n) _____ shows you the schedule of payments on a loan and the total interest and payments at the end of the loan.
    B. amortization table

    2. Secured debts must have _____. 
    A. collateral

    3. Using the table, where does the smallest change in interest rates between secured and unsecured occur?

    at the excellent rating

    4. You are purchasing a car for $12,985.00 with the help of your parents. How much interest is saved in the first month by you using their good credit rating compared to your fair credit rating, using the table above? 
    Review Guidelines:

    (12985) * (0.014) * 1/12 = 15.14916666 = $    15.15

    C. $15.15

applelulu

The answers are:

1.  B. amortization table

2. A. collateral

3. A. at the excellent rating

4. C. $15.15

Related Questions