Your parents purchase a mobile home for $84,505.00 and secure it to the ground. If they have an excellent credit rating and using the table, how much is the interest at the end of the first month?
Mortgage
Secured
Mortgage
Unsecured
Auto
Secured
Auto
Unsecured
Credit
APR (%)
APR (%)
APR (%)
APR (%)
Excellent
3.75
4.50
5.30
6.45
Good
4.30
4.85
5.95
7.10
Average
5.15
5.70
6.50
7.90
Fair
6.50
7.00
7.15
8.45
Poor
8.25
9.30
8.40
9.95
A. $264.08
B. $316.89
C. $373.23
D. $454.21