Why doesnt everyone qualify for the same interest rate when they apply for a loan? What are

Fantastic news! We've Found the answer you've been seeking!

Question:

Why doesn’t everyone qualify for the same interest rate when they apply for a loan? What are some of the factors that affect the rate of interest a borrower has to pay?

Related Book For answer-question

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

See More Books

Posted Date: Oct 27, 2023 02:03 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Moral issues greet us each morning in the newspaper and bid us farewell on the evening news. We are bombarded daily with questions about the morality of surrogate motherhood, the legitimacy of...
Solve the equation symbolically. Then solve the related inequality. 1 - X
Calculate the Accounts Payable balance? Accounts Payable 6,000 21,000 May 1 May 2 May 22 11,500 500 May 5 8,500 May 15 500 May 23
Vector R has length 9.00 cm at 240.0. Find its x- and y-components.
The theoretical minimum work required to separate $1 \mathrm{~mol}$ of a liquid mixture at $1 \mathrm{~atm}$ containing $50 \mathrm{~mol} \%$ each of $n$-heptane and $n$-octane into pure...
On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,000 in assets to launch the business. On October 31, the companys records show the following items and...
You must include source reference citations in-text and a reference list of complete citations, in support of your essay. Failure to include references will result in loss of points. FACTS: Kadie,...
Kramer Corporation enters a contract to sell 100 custom-made iron pipes to a customer for $300,000 on December 31, 2016, and the customer pays the full amount on that date. The sales contract...
Defined the law and its kinds and also discussed the legal system of Pakistan.
How are anarchism, totalitarianism, and pluralism different?
In 2014, Chris purchased a machine (7-year property) that cost $20,000 for use in his sole proprietorship. He claimed only regular MACRS depreciation (no Section 179 expensing or bonus depreciation)...
On which of the following financial statements would you find all of the capital assets of a local government? a. Statement of net position. b. Statement of financial condition. c. Statement of...
Why do mixed economies split the ownership of land, factories, and other economic resources rather equally between private and government ownership?
Which of the following is true regarding permanent funds? a. They use modified accrual accounting. b. Their principal cannot be expended. c. Dividend and interest income from their investments are...
Allowance for Doubtful Accounts has a debit balance of $500 at the end of the year (before adjustment), and uncollectible accounts expense is estimated at 2% of net sales. If net sales are $600,000,...
How is use of the word consistent helpful in fraud reports?
Triplett attempted to arrange a $2,850,000 loan through Meyer Rabin and his Consumers Investment Company (CIC). CIC issued a commitment letter conditioned on the payment of a $14,250 commitment fee...
HMT, already in the business of marketing agricultural products, decided to try its hand at marketing potatoes for processing. Nine months before the potato harvest, HMT contracted to supply Bell...
Compare briefly the traditional and modern theories of definiteness of acceptance of an offer as shown by the common law mirror image rule and by the rule of the Uniform Commercial Code.
Referring to Table 7.1 in the text: a. Calculate the $R^{2}$ for each of the regressions. b. Calculate the homoskedasticity-only $F$-statistic for testing $\beta_{3}=\beta_{4}=0$ in the...
A Cobb-Douglas production function relates production $(Q)$ to factors of production-capital $(K)$, labor $(L)$, and raw materials $(M)$ - and an error term $u$ using the equation...
Suppose the regression in Equation (8.30) is estimated using LoSTR and $L o E L$ in place of HiSTR and HiEL, where LoSTR $=1-H i S T R$ is an indicator for a low-class-size district and \(L o E...

Why doesnt everyone qualify for the same interest rate when they apply for a loan? What are

Question:

Expert Answer:

Interest rates on loans can vary from one borrower to another due to several factors that lenders consider when determining the rate they offer These ... View the full answer

Smith and Roberson Business Law

Students also viewed these accounting questions