Answer:
B.
Step-by-step explanation:
The purpose of establishing a good credit history is to show that you are able to handle money. The higher your credit score is, the more responsible you are with money.
You can build good credit history by making payments with a credit card and repaying your purchases. It shows that if the bank were to give you a larger sum of money, you would pay it back.
As such, B is incorrect. The purpose of credit relates to purchases. A is obviously correct for this reason. C is correct because banks are likely to put less interest, as interest correlates to the score (lower credit score, higher interest). D is correct because banks allow you to obtain credit cards with better rates if your credit score is high enough.
Employers cannot determine your qualification for a job based on a credit score. Some states even prohibit this. For this reason, B is incorrect.
9514 1404 393
Answer:
- to interest: $532.97
- to principal: $54.23
- new balance: $79,891.90
Step-by-step explanation:
The interest is found by multiplying the monthly rate by the balance on the loan. For the first month, the balance is the loan amount.
$79,946.13 × 0.08 ×(1/12) . . . . . one month = 1/12 year
= $532.97
The interest amount in the first payment is $532.97.
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The amount of the first payment that goes to principal is what is left after the interest is paid:
$587.20 -532.97 = $54.23 . . . amount to principal
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The new balance is the previous balance less the amount to principal:
$79,946.13 -54.23 = $79,891.90 . . . new balance
Hello,
So 45 divided by 12 would get you 3.75. If I were to convert this in a mixed number, I would get me 2 1/2. So your answer is D
Hope this helps.
