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?
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