Your parents are purchasing a mobile home for $89,000. The sales tax is 4.2%, they make a $3,000 down payment, and they have an average credit score. How much is the principal balance after applying their first month’s payment of $925.67?
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
$88,912.03
$88,245.05
$89,021.98
$89,249.80