Frank and Jasmere are both shopping for a new car. They are looking for a $20,000 loan to pay for the new car that they will pay back over a five year period. Frank has a credit score of 730 and Jasmere has a score of 600. Which of the following statements is TRUE?
A) Over the five year period, Jasmere and Frank will pay the same amount for the car loan
B) Frank's monthly payment on the auto loan will be about $100 more than Jasmere's payment
C) Jasmere's monthly payment on the loan will be about $100 more than Frank's payment
D) Lenders are not allowed to charge people different interest rates based on their credit scores
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Frank and Jasmere are both shopping for a new car. They are looking for a $20,000 loan to pay for the new car that they will pay back over ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The cost of direct materials transferred into the Rolling Department of Kraus Company is $3,000,000. The conversion cost for the period in the Rolling Department is $462,600.
Answers (1)
Which industry is the second-largest employer of teens and young people? What percentage of employed teens are employed by the government? I got it is retail trade and 7%
Answers (1)
DAR Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 170,000 shares of stock outstanding.
Answers (1)
What kind of education do you need to be a construction engineer technology?
Answers (1)
The employees of eco engineering inc. share company-related resources among multiple computers without requiring a central network server. this is
Answers (1)
New Questions in Business
A DVD player that was originally priced at $399.95 and cost $215 is ultimately sold for $349.95. What were the reduction percentage and the maintained markup percentage on this DVD player?
Answers (1)
To what phase of the employment cycle does training belong? ...
Answers (1)
For a given product demand, the regression equation is 53 - 4x. The negative sign on the slope of the equation: A) is a mathematical impossibility. B) is an indication that the forecast is biased, with forecast values lower than actual values.
Answers (1)
For most firms, the major difference between accounting profit and economic profit is that a. accounting profit omits the salaries of managers, and therefore, it is generally greater than economic profit. b.
Answers (1)
Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $220 million of 8% bonds, dated January 1, on January 1, 2021. Management intends to have the investment available for sale when circumstances warrant.
Answers (1)