Credit and Loans Answers

The type of credit people are most likely to use for small purchases during their lifetime is

What is the compound interest on a three-year, $100.00 loan at a 10 percent annual interest rate?

Which statement is true of both mortgages and auto loans?

The simple interest on a loan of $200 at 10 percent interest per year is

In determining whether to issue a loan, banks are not allowed to ask about an applicant’s

Which describes the difference between secured and unsecured credit?

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Consumers who pay more than the minimum payment on credit cards

The chart shows a range of credit scores.

Read the scenario.Casey has been saving for a new car and is ready to make a purchase. Having a substantial amount to put down as a down payment, Casey approaches the car dealership. The salesperson and the loan officer view Casey's willingness to make a high down payment positively.Why would Casey be considered a lower risk by the lender for planning to make a high down payment?