Question

1. A(n) _____ shows you the schedule of payments on a loan and the total

Answer 1

1. A(n) _____ shows you the schedule of payments on a loan and the total interest and payments at the end of the loan.
B. amortization table

2. Secured debts must have _____. 
A. collateral

3. Using the table, where does the smallest change in interest rates between secured and unsecured occur?

at the excellent rating

4. You are purchasing a car for $12,985.00 with the help of your parents. How much interest is saved in the first month by you using their good credit rating compared to your fair credit rating, using the table above? 
Review Guidelines:

(12985) * (0.014) * 1/12 = 15.14916666 = $15.15

C. $15.15

Answer 2

The answers are:

1.  B. amortization table

2. A. collateral

3. A. at the excellent rating

4. C. $15.15