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Dora, Tola, and Andy are three small-business owners. They each need a cash advance to sort out petty office expenses. They have applied for credit cards. Who can negotiate the lowest interest rate?

\begin{tabular}{|c|c|c|c|}
\hline & Dora & Tola & Andy \\
\hline Credit Score & 720 & 590 & 660 \\
\hline Loan Amount & \[tex]$5000.00 & \$[/tex]5000.00 & \$5000.00 \\
\hline
\end{tabular}

A. Dora

B. All three stand the same chance

C. Tola

D. Andy

Sagot :

GinnyAnswer
To determine who can negotiate the lowest interest rate among Dora, Tola, and Andy, we need to compare their credit scores. Credit scores are a numerical representation of an individual's creditworthiness, and generally, the higher the credit score, the lower the interest rate they can negotiate on a loan.

Given the credit scores:
- Dora: 720
- Tola: 590
- Andy: 660

Here are the steps to determine who can negotiate the lowest interest rate:

1. Understand Credit Score Impact: Higher credit scores usually correlate with lower risk for lenders, allowing them to offer lower interest rates to individuals with higher credit scores.

2. Compare Credit Scores:
- Dora's credit score is 720.
- Tola's credit score is 590.
- Andy's credit score is 660.

3. Identify the Highest Credit Score:
- Among the three, Dora has the highest credit score of 720.
- Andy has the next highest credit score of 660.
- Tola has the lowest credit score of 590.

4. Determine Negotiation Potential: Given that a higher credit score often means a borrower is considered lower risk by lenders, Dora, with the highest credit score of 720, has the best chance to negotiate the lowest interest rate for a loan.

Therefore, Dora can negotiate the lowest interest rate.
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