Question

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%

Answer 1

you still need help?

Answer 2

yup

Answer 3

ok what do you think is the correct answer?

Answer 4

c and a

Answer 5

Given that 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

To find: Interest rate paid by samantha to the bank

From given information in question,

Interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan

Thus we get,

Interest charged on Samantha’s loan = 3 percentage points higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % + interest rate on George’s loan

Thus substituting the given George’s loan application at 5.6% interest,

Interest charged on Samantha’s loan = 3 % + 5.6 % = 8.6 %

Thus interest rate paid by samantha to bank is 8.6 %

Answer 6

\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
c and a
\(\color{#0cbb34}{\text{End of Quote}}\)
your correct but take away one

Answer 7

\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
Given that 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

To find: Interest rate paid by samantha to the bank

From given information in question,

Interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan

Thus we get,

Interest charged on Samantha’s loan = 3 percentage points higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % + interest rate on George’s loan

Thus substituting the given George’s loan application at 5.6% interest,

Interest charged on Samantha’s loan = 3 % + 5.6 % = 8.6 %

Thus interest rate paid by samantha to bank is 8.6 %
\(\color{#0cbb34}{\text{End of Quote}}\)
dat was alot you typed all of dat

Answer 8

\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
Given that 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

To find: Interest rate paid by samantha to the bank

From given information in question,

Interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan

Thus we get,

Interest charged on Samantha’s loan = 3 percentage points higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % + interest rate on George’s loan

Thus substituting the given George’s loan application at 5.6% interest,

Interest charged on Samantha’s loan = 3 % + 5.6 % = 8.6 %

Thus interest rate paid by samantha to bank is 8.6 %
\(\color{#0cbb34}{\text{End of Quote}}\)
nice
next time try not to say the direct answer lets him/her say it

Answer 9

\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
c and a
\(\color{#0cbb34}{\text{End of Quote}}\)
your correct but take away one
\(\color{#0cbb34}{\text{End of Quote}}\)
c

Answer 10

yes my handz hurt lmaoo

Answer 11

\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
yes my handz hurt lmaoo
\(\color{#0cbb34}{\text{End of Quote}}\)
lmaoo

Answer 12

oh ok gotchu

Answer 13

should i delte it ;o

Answer 14

\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
c and a
\(\color{#0cbb34}{\text{End of Quote}}\)
your correct but take away one
\(\color{#0cbb34}{\text{End of Quote}}\)
c
\(\color{#0cbb34}{\text{End of Quote}}\)
correct now your left with a and thats correct

Answer 15

:)

Answer 16

\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
should i delte it ;o
\(\color{#0cbb34}{\text{End of Quote}}\)
its ok

Answer 17

\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
Given that 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

To find: Interest rate paid by samantha to the bank

From given information in question,

Interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan

Thus we get,

Interest charged on Samantha’s loan = 3 percentage points higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % + interest rate on George’s loan

Thus substituting the given George’s loan application at 5.6% interest,

Interest charged on Samantha’s loan = 3 % + 5.6 % = 8.6 %

Thus interest rate paid by samantha to bank is 8.6 %
\(\color{#0cbb34}{\text{End of Quote}}\)
nice
next time try not to say the direct answer lets him/her say it
\(\color{#0cbb34}{\text{End of Quote}}\)
im a female

Answer 18

oh ok

Answer 19

\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
Given that 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

To find: Interest rate paid by samantha to the bank

From given information in question,

Interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan

Thus we get,

Interest charged on Samantha’s loan = 3 percentage points higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % + interest rate on George’s loan

Thus substituting the given George’s loan application at 5.6% interest,

Interest charged on Samantha’s loan = 3 % + 5.6 % = 8.6 %

Thus interest rate paid by samantha to bank is 8.6 %
\(\color{#0cbb34}{\text{End of Quote}}\)
nice
next time try not to say the direct answer lets him/her say it
\(\color{#0cbb34}{\text{End of Quote}}\)
im a female
\(\color{#0cbb34}{\text{End of Quote}}\)
ok thats why i said him/her cause idk who you are

Answer 20

\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
Given that 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

To find: Interest rate paid by samantha to the bank

From given information in question,

Interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan

Thus we get,

Interest charged on Samantha’s loan = 3 percentage points higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % + interest rate on George’s loan

Thus substituting the given George’s loan application at 5.6% interest,

Interest charged on Samantha’s loan = 3 % + 5.6 % = 8.6 %

Thus interest rate paid by samantha to bank is 8.6 %
\(\color{#0cbb34}{\text{End of Quote}}\)
nice
next time try not to say the direct answer lets him/her say it
\(\color{#0cbb34}{\text{End of Quote}}\)
im a female
\(\color{#0cbb34}{\text{End of Quote}}\)
ok thats why i said him/her cause idk who you are
\(\color{#0cbb34}{\text{End of Quote}}\)
i just told u

Answer 21

\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @LjTheBaller16
\(\color{#0cbb34}{\text{Originally Posted by}}\) @Katrin369
\(\color{#0cbb34}{\text{Originally Posted by}}\) @smackz
Given that 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

To find: Interest rate paid by samantha to the bank

From given information in question,

Interest charged on Samantha’s loan is 3 percentage points higher than the interest rate on George’s loan

Thus we get,

Interest charged on Samantha’s loan = 3 percentage points higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % higher than the interest rate on George’s loan

Interest charged on Samantha’s loan = 3 % + interest rate on George’s loan

Thus substituting the given George’s loan application at 5.6% interest,

Interest charged on Samantha’s loan = 3 % + 5.6 % = 8.6 %

Thus interest rate paid by samantha to bank is 8.6 %
\(\color{#0cbb34}{\text{End of Quote}}\)
nice
next time try not to say the direct answer lets him/her say it
\(\color{#0cbb34}{\text{End of Quote}}\)
im a female
\(\color{#0cbb34}{\text{End of Quote}}\)
ok thats why i said him/her cause idk who you are
\(\color{#0cbb34}{\text{End of Quote}}\)
i just told u
\(\color{#0cbb34}{\text{End of Quote}}\)
ok thanks