The table below shows a mortgage lender's interest rates and monthly payments for different credit scores.Mortgage loan amount: $345,000Length of the loan: 15 years Credit score Rate Monthly payment660 – 679 5.33% $2788680 – 699 5.18% $2761700 – 719 5.11% $2748720 – 739 4.97% $2723+740 4.85% $2701Christine's credit score is 746. Tom's credit score is 712. Answer the following questions.(a)What interest rates will the lender offer Christine and Tom?Christine: %Tom: %(b)Who will have a lower monthly payment, and by how much?ChristineChristine'smonthlypaymentwillbelowerby$.TomTom'smonthlypaymentwillbelowerby$.(c)A more positive credit history usually results in a higher credit score. Which statement explains why it is important to establish a positive credit history?Higher credit scores usually mean lower monthly payments for mortgage loans.Higher credit scores usually mean higher monthly payments for mortgage loans.

The table below shows a mortgage lender's interest rates and monthly payments for different credit scores.Mortgage loan amount: $375,000Length of the loan: 30 years Credit score Rate Monthly payment660 – 679 3.96% $1782680 – 699 3.86% $1760700 – 719 3.81% $1749720 – 739 3.74% $1735+740 3.62% $1709Isabel's credit score is 691. Chau's credit score is 754. Answer the following questions.(a)What interest rates will the lender offer Isabel and Chau?Isabel: %Chau: %(b)Who will have a lower monthly payment, and by how much?IsabelIsabel'smonthlypaymentwillbelowerby$.ChauChau'smonthlypaymentwillbelowerby$.(c)A more positive credit history usually results in a higher credit score. Which statement explains why it is important to establish a positive credit history?Mortgage lenders usually offer higher interest rates for higher credit scores.Mortgage lenders usually offer higher interest rates for lower credit scores.

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?*1 pointOver the five year period, Jasmere and Frank will pay the same amount for the car loanFrank's monthly payment on the auto loan will be about $100 more than Jasmere's paymentJasmere's monthly payment on the loan will be about $100 more than Frank's paymentLenders are not allowed to charge people different interest rates based on their credit scores

What will be the monthly payment on a $75,000 30-year home mortgage at 1% interest per month?Question 4Select one:a.$771.46b.$775.90c.$1,028.61d.$1,034.53e.None of these is correct

CNBC.com reported mortgage applications increased 9.9% due to a decrease in the rate on 30-year fixed-rate mortgages. Joe Sisneros wants to purchase a vacation home for $320,000 with 20% down. Calculate his monthly payment for a 30-year mortgage at 6.0%. Calculate total interest.

Simon has taken a 20-year, $252,000 mortgage on his house at an interest rate of 6% p.a., compounded annually. What is the remaining balance of the mortgage after the payment of the fifth annual instalment?  $129,987.19 Correct Answer  $213,383.05 You Answered  $142,156.38   $250,707.02