There you go. Hope it help.
Answer:
6.2%
Step-by-step explanation:
Credit rating is an evaluation of the credit risk of a borrower, that how often a person is going to repay their debt, by credit rating it predicts the ability of the debtor to payback.
Mike has credit rating = 720
Tyler has credit rating = 560
Both are approved for loan. Mike's Credit score is higher, which means he is a much safer debtor as compared to Tyler. Mike will be able to pay back much easily than Tyler. Therefore Mike interest rate is 3.2%
Interest rate of Tyler is higher as he is not that trusted and has low Credit rating. Tyler is approved for a loan that charged 3 percentage points higher because of his inferior credit rating so it interest on the loan will be
Interest = 3.2%+3% = 6.2%
Answer:
$558.88
Step-by-step explanation:
4.6 turned into a fraction is 4 6/10= 4 3/5
4.6= 4 3/5.
4 3/5 is simplified.
Answer: $42.21
Step-by-step explanation:
Henry; $24.12
Gregg; $24.12 / 2= $12.06
Kasey; $ 24.12 / 4= $6.03
$24.12 + $12.06 + $6.03
