Principle to Business

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After your loan application is submitted, who decides if you get approved for the loan?
a. credit agency
b. credit bureau
c. FICO
d. collections agency
e. loan underwriter
I pick e.

  • Principle to Business -

    Correct!

  • Principle to Business -

    People with a higher credit score typically pay _________ interest rates when borrowing money which _________ the cost of borrowing.
    a. lower, increases
    b. higher, increases,
    c. lower, decreases
    d. higher decreases
    e. lower, doesn't effect
    I pick e.

  • Principle to Business -

    I disagree. Not e.

  • Principle to Business -

    c. it would lower the interest rates and decreases the cost of borrowing

  • Principle to Business -

    Yes, c.

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