just need help with numbers: 3,4, and 8! thanks

Discover! What is "Good Credit" and is it Important? Whenever a person pays a utility bill, makes a car payment, or charges a shopping trip at the mall to a credit card, he or she is establishing a credit history. There are several companies - called credit bureaus - that track the borrowing and payment habits of Americans. These credit bureaus maintain databases of this. information that potential lenders, potential utility companies, potential employers, insurance companies, and others may access to help determine the creditworthiness of an individual. Based on the information in these databases, each person is assigned a credit score, generally between 300 and the mid800 s. A low credir score generally indicates that an individual has very poor payment habits (payments are often late), too much available credit (too many credit cards, for example), or little to no experience with credit altogether. A high credit score would typically indicate that the individual rarely, if ever, has a late payment, has much more income than credit, ete. Potential lenders use this credit score to decide whether or not to lend and to set the interest rate on the loan. Generally speaking, individuals with a bigher credit score are considered a better credit risk and are often given lower interest rates on loans and crodit cards. Anyone may obtain a free copy of his/her credit rating at: https://www.annualcreditreport.com/cra/indexisp One of the biggest purchases anyone will ever make is a home. Let's consider what impact different interest rates have on the cost of a home with a $100,000 mortgage paid over the span of 30 years. 1.) Use the sample calculation for a 5% interest rate to compute the total cost of the mortgage over 30 years at: a. 4% interest rate: 171,871.2. b. 6% interest rate: 215,838 2.) How much more does the 6% mortgage cost over 30 years than the 4% mortgage? 3.) Does the 2% higher interest rate result in just a 2% increase ( 2% of $100,000 is $2,000) in the cost of the motigage over 30 ysars? Write a meaningfil sentence. explaining your answer. 4.) What does this example sugpest about the importance of responsible use of crodit? Credit Cards and Finance Charges A credit card allows an individual to borrow money on a short-term basis to pay for goods and services with the promise of payment in the future. Credit cards afford individuals a groat deal of convenience by removing the need to carry cash for purchases and provide an opportunity to establish a favorable credit history. As with any type of loan, the lender (card issuer) charges the user a finance charge in the form of interest on the unpaid balance of the crodit card each month. This interest rate is the APR (annul percentage rate) and is usually much higher for credit card's than other types of loans like mortgages or auto loans. If is pacsible fo avoid this finance charge by paying the entire balance of the credit card ench month before the due date. Let's consider the finance charge on a credit card with a balance of $1,000 and an APR of 16.99%. Credit card companies are only allowed to charge the user interest for the period of time that the money is borrowed. They compute the finance charge based on a daily interest rate, the APR, divided by 365 , for the number of days that the money is in use. However, to simplify our calculation just a bit, we will use the monthly interest rate, the APR divided by 12 , and assume that we carry a balance on the card from the very first day of the month until the very last day of the month. Inthisexample,themonthlyinterestrateforanAPRof16.99%is:monthlyinterestrate=120.1699=0.014158=1.4158%inacalculationlousanginRememberPercentagesmustbeconvertedtodecimalformatbeforetheyareused So, the finance charge for owing $1,000 for a whole month is the monthly interest rate times the balance =(0.014158)($1000)=$14.16. Consider the following sample of a typical credit card agreement from a major eredit card company: - APR 15.99% (may vary monthly) - Penalty APR: Up to 29.99x, depending on your creditworthiness. (If you make a late payment or exceed your credit limit, we may increase your APR to the penalty rate. Your current APR, your payment history, and your general credit history determine this rate.) - Late Payment Fee: $35 - Returned Payment Fee: $25 - Over Limit Fee: $39 - Cash Back Rewards: Earn a full 1% on all purchases after your total annual purchases exceed $3,000. Purchases that are part of your first $1,500 earn 0.25%, and purchases that are part of your second $1,500 earn 0.50%. - Credit Limit: Your credit limit is based on your income and credit history, and will be at least $500. - Minimum Monthly Payment: $20 or $% of your new balance, whichever is greater. Suppose Jennifer has a new credit card with the above rules. Her credit limit is $500. She purchases $195 in school supplies at the beginning of the month. 8.) What will Jennifer's cash back reward actually be for the school supplies? Cash back rewards for purchases are calculated only on new purchases. A balance from a previous month is not subject to a cash back reward. The cash back generally cannot be applied to the balance of the credit card (in other words, it cannot be used to make a payment). Often credit card companies report accumulated cash back rewards on statements and consumers are required to request a check when rewards reach a specified amount (like $100 ). If consumers fail to collect their eamed rewards, there are increased profits for the credit card companies