Your FICO score of 790 enables you to obtain a loan for $6,500 at 3.5% interest....
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Your FICO score of 790 enables you to obtain a loan for $6,500 at 3.5% interest. Your friend needs the same amount. However, because his FICO score is 600, he will have to pay 6% interest. How much less will you pay in simple interest in one year for the same amount of money? Your FICO score of 790 enables you to obtain a loan for $6,500 at 3.5% interest. Your friend needs the same amount. However, because his FICO score is 600, he will have to pay 6% interest. How much less will you pay in simple interest in one year for the same amount of money?
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
Posted Date:
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