# math

You are purchasing a car for \$12,465.00 plus 5.65% sales tax. You make a \$1,300.00 down payment and have a fair credit score. If you improved your credit score to good and paid \$1,500 on your purchase, how much interest could you save in the first month?

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

\$25.69

\$21.74

\$13.25

\$14.68

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1. \$12,465.00 plus 5.65% = 13,169.27
less 1300 down leaves 11,869.27
1st month's interest on that is \$55.88

Now check the other interest rates and compare.

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oobleck

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