Problem
You are purchasing a car for $12,465.00 plus 5.65% sales tax. You make a $1,300.00 down payment and have a fair credit score. How much interest is due at the end of the first month?
|
|
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
|