8.
Say that you (or your parents) are purchasing a house for $235,000 and have an excellent credit score. If you pay $1,678.93 at the end of
the first month, how much is applied to the principal balance?
Credit
Excellent
Good
Average
Fair
Poor
Secured
APR (%)
4.75
5.00
5.85
6.40
7.50
Unsecured
APR (%)
5.50
5.90
6.75
7.25
8.40
$616.29
$685.25
$748.72
$721.19
