Question

Zoe filed for bankruptcy several years ago and now wants to take out a loan for $15,200. since zoe has a past bankruptcy, she will end up paying a higher interest rate. the loan term is four years, and her payments are $819.20 per month. with a better credit rating, her payments could have been $440.82 per month. how much more in interest will zoe end up paying for her loan because of her bankruptcy? a. $4,540.56 b. $15,135.20 c. $23,346.24 d. $18,162.24

Answer 1

C

Explanation:

Edunuity

Answer 2

18,162.24 / D

Explanation:

12 months per year times 4 years is 48 months

819.20 x 48 = 39,321.60 which is what she is paying

440.82 x 42 = 21,159.36 which is what she could be paying

so do 39321.60 - 21159.36 to get 18,162.24 or answer D.