Question

Review the information given based on a principal balance of $8,00 to answer the question: calculate the percent increase in the amount of interest paid between a household with an 801 credit score and one with a 798 credit score. round the final answer to the nearest tenth. 6.0%21.6%37.9% 44.3%

Answer 1

We can calculate the percent increase making the following calculation:

$\text{Increase = }\frac{9,812}{9,256}=1.06$

This means that the value increased 6%