Consumer Math B - Unit 1 - Lesson 2
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Your parents purchase a mobile home for $84,505.00 and secure it to the ground. If they have an excellent credit rating and using the table, how much is the interest at the end of the first month?
$264.08
You have a student loan for $12,674.00. What number is the rate multiplier in the I = Prt formula if you have an average credit rating?
0.0780
Unsecured debt interest rates are usually _____ when compared to secured debt.
higher
An example of an unsecured debt is a(n) _____.
student loan
