Present Value of an Annuity Carrie and Miranda earn the same salary. However, miranda has been far more financially responsible. she pays her bills on time and pays off her credit card debt quickly. Carrie has been less financially responsible. she often buys too many shoes and she allowed her credit card blance to ballon. if she is short on cash for a month, she simply decides to not even pay the minimum balance due on her credit card. now they both are looking to buy apartments. Miranda decides she can afford to make 2,500 payments but carrie can only make 2,000 payments and pay off her credit card debt, too. Miranda qualifies for a 6.5 % 30 year mortage but because of her bad credit rating Carrie will be charged 8% on a 30 year morage. both will put 20% down. how is carries bad credit going to impact her apartment search?