example: you buy a television for $1,000 using a credit card with a 15% annual interest rate. if you pay off…

example: you buy a television for $1,000 using a credit card with a 15% annual interest rate. if you pay off the purchase in one year and the card has no grace period, what is the total cost of the television including interest? formula: total cost = purchase amount+(purchase amount·interest rate) example: carson has a credit rating of 680, while jaylen has a credit rating of 590. both apply for the same type of car loan from highway credit union. carson is approved for the loan at 4.5% interest. jaylen is approved at an interest rate that is 2 percentage points higher than carsons due to his lower credit score. what interest rate is jaylen charged? example: kenzo has a credit score of 740, but simone has a credit score of 580. they each want to consolidate their debt and get an offer from the same financial institution. kenzo is given a consolidation loan at an interest rate of 7%. simone is given a rate that is 2.5 percentage points higher. what is simones interest rate?

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