What is the primary measure that creditors use determine whether to give you credit, decide the terms you are offered, and the interest rate you will pay for a loan?.

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20-09-2022
Business

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What is the primary measure that creditors use determine whether to give you credit, decide the terms you are offered, and the interest rate you will pay for a loan?.

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mboluwape mboluwape · Answer 1 · 2022-09-23T10:52:43-04:00

Capacity is the primary measure that creditors use determine whether to give you credit, decide the terms you are offered, and the interest rate you will pay for a loan.

What is loan?

A loan is an amount of money given to an individual in advance of when the individual will have the money.

Some loans are given with collateral while others may not collateral. Most loan comes with interest which is certain amount of money that is determined by the borrower.

The capacity of the individual who wants to borrow money should be known to a certain repayment plan.

Therefore, Capacity is the primary measure that creditors use determine whether to give you credit, decide the terms you are offered, and the interest rate you will pay for a loan

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okpalawalter8 okpalawalter8 · Answer 2 · 2022-09-23T11:01:36-04:00

Capacity is the main factor that creditors consider when deciding whether to provide you credit, what conditions they will offer you, and how much interest you will pay on a loan.

Describe a loan.?

A loan is a sum of money that is provided to a person before they really get it. While some loans may not need collateral, others may.

The majority of loans include interest, which is a predetermined sum of money set by the borrower.

The ability of the person seeking a loan should be known to a certain repayment strategy.

As a result, your capacity is the main factor that creditors consider when deciding whether to provide you credit, what conditions they will offer you, and what interest rate you will pay for a loan.

Study more about loans below.

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