This assignment involves analysis of loan savings you can realize by achieving a higher FICO scores. To begin this assignment, please go to:
http://www.myfico.com/credit-education/calculators/loan-savings-calculator/
Once you have located this Website, please use this Word document to answer the following:
1. Set the type of loan to 30-year fixed.
2. Set the state you live in to California.
3. Input a loan principal amount of $300,000.
4. Select 700-759 for FICO score.
5. Click the Calculate button.
6. Paste a screen shot of the results into this Word document below.
(PASTE SCREEN SHOT HERE)
7. Review the results of your inputs and make some notes about your conclusions. Keep those notes handy.
8. Come up with your own set of assumptions (type of loan, state lived in, loan principal amount and FICO score range) and input those assumptions into the model. Paste a screen shot of the results into this Word document below.
(PASTE SCREEN SHOT HERE)
9. Using the notes you previously made and anything you noted from inputting your own assumptions, please write your observations and conclusions below.

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