Your parents are purchasing a mobile home for $89,000. the sales tax is 4.2%, they make a $3,000 down payment, and they have an excellent credit score. how much is the interest at the end of the second month if their first month’s payment is $925.67?
secured unsecured
credit apr (%) apr (%)
excellent 4.75 5.50
good 5.00 5.90
average 5.85 6.75
fair 6.40 7.25
poor 7.50 8.40

1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%