Are there any significant disadvantages to a credit-scoring system?
Answer to relevant QuestionsIn the credit-scoring system presented in this chapter, would a loan applicant who is a skilled worker, lives with a relative, has an average credit rating, has been in his or her present job and at his or her current ...In what ways is a real estate loan unique compared to other kinds of bank loans?See if you can determine what APR you are charging a consumer loan customer if you grant the customer a loan for five years payable in monthly installments, and the customer must pay a finance charge of $42.74 per $100.The Childress family has applied for a $5,000 loan for home improvements, especially to install a new roof and add new carpeting. Bob Childress is a welder at Ford Motor Co., the first year he has held that job, and his wife ...Clyde Cook wants to start his own business. He has asked his bank for a $50,000 new-venture loan. The bank has a policy of making discount-rate loans in these cases if the venture looks good, but at an interest rate of prime ...
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