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The table below shows a mortgage lender's interest rates and monthly payments for different credit scores.
Credit score Rate Monthly payment
660-679
4.58
680 - 699 4.43%
700-719
4.35%
720-739
4.15%
740+
3.99%
Mortgage loan amount: $285,000
Length of the loan: 15 years
$2192
$2170
$2158
$2130
$2107
Linda's credit score is 701. Reuben's credit score is 670. Answer the following questions.
(a) What interest rates will the lender offer Linda and Reuben?
Linda: _%
Reuben: _%
(b) Who will have a lower monthly payment, and by how much?
-Linda's monthly payment will be lower by $___
Sagot :
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