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

Question

2 years ago

10

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?
Over the five year period, Jasmere and Frank will pay the same amount for the car loan

Frank's monthly payment on the auto loan will be about $100 more than Jasmere's payment

Jasmere's monthly payment on the loan will be about $100 more than Frank's payment

Lenders are not allowed to charge people different interest rates based on their credit scores

English

1 answer:

borishaifa [10] · Answer 1 · 2023-04-04T09:48:21+03:00

borishaifa [10]2 years ago

3 0

Answer: Option 3 is true

Explanation: