Review the simple interest rate based on FICO scores to answer the question:

FICO Score Simple Interest Rate
800–850 4.295%
740–799 5.597%
670–739 8.132%
580–669 9.358%
300–579 12.413%


A consumer, with a credit score of 645, is planning to buy a used car and needs to borrow $3,500 with a simple interest rate loan. Determine the interest rate the consumer will qualify for if they raise their credit score 60 points.

4.295%
5.597%
8.132%
9.358%