Reduce the ratio:
15 min: 1hr

1 min : 4 min

Step-by-step explanation:

15 min : 1hr can be written like

15 min : 60 min --> because there are 60 minutes in an hour

Now we divide by 15

1 min : 4 min

They pay $231,693.52 more in total interest than the person who has not filed bankruptcy.

Step-by-step explanation:

Loan amount, PV = $150,000.

Time of repayment = 30 years = 360 months.

For a bankrupt person, Interest rate = R = 12%/12 = 12/1200 = 0.01

Monthly payments for the bankrupt person will be:-

Total repayment for the bankrupt person = 1542.918895 x 360 = $555,450.80

For a good credit-score person, Interest rate = R = 6%/12 = 6/1200 = 0.005

Monthly payment s for the good credit-score person will be:-

Total repayment for the good credit-score person = 899.3257877 x 360 = $323,757.28

Excess amount paid by the bankrupt person = 555450.80 - 323757.28 = $231,693.52

Hence, they pay $231,693.52 more in total interest than the person who has not filed bankruptcy.