Question

Two people apply for loans of the same amount. Due to differences in their credit scores, their payments differ by $72
per month. How much more will the person with the lower credit score pay at the end of the 36-month loan.
a) S439
Ob) $1,580
C) $2,292
d) $2,592

Answer 1

Answer:

$\large \boxed{\text{d) \ 2592 }}$

Step-by -step explanation:

The person with the lower credit score pays $72 more each month.

Over 36 mo, they will pay an extra

$\text{Total amount} = \text{36 mo} \times \dfrac{\text{\ 72}}{\text{1 mo}} = \textbf{\ 2592}\\\\\text{The person with the lower credit score will have paid an extra \large \boxed{\mathbf{\ 2592 }} }$