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Finance 7 Online
LjTheBaller16:

George and Samantha both applied for a personal loan at Westside Bank. George has a credit score of 650. Samantha has a credit score of 520. The bank approved George’s loan application at 5.6% interest. Samantha was approved for the same loan amount, but, because of her lower credit rating, the interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan. What interest rate does Samantha pay to the bank? A. 8.6% B. 5.9% C. 3.0% D. 2.6%

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