Business, 14.01.2022 16:40 FlowerChild1229

Cheri took out a loan for $14,350. The loan term was 3 years and Cheri’s payments were $625. 77 per month. Since Cheri had filed for bankruptcy several years prior, she ended up paying a higher interest rate. With a better credit rating, her payments could have been $431. 21 per month. How much more in interest did Cheri end up paying for her loan because of her bankruptcy? a. $5,836. 80 b. $2,334. 72 c. $8,624. 16 d. $7,004. 16.

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Cheri took out a loan for $14,350. The loan term was 3 years and Cheri’s payments were $625. 77 per...

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