Question

If David has a job, pays his bills on time, has paid back loans and only has a car payment; would he have a high interest rate on credit or low?

low
high

Answer 1

low interest rate being as tho he's acquired some credit with in time payments

Answer 2

Answer:

Low

Explanation:

David is likely to have a low interest rate on credit if he has a job, pays his bills on time, has paid back loans and only has a car payment. We can tell from the description that David is responsible when dealing with his money. He is clearly aware of the importance of paying back debt and not spending more money than he can manage. Because of this, the bank would consider him a responsible person with a low-risk profile. This means that he would pay a low interest rate if he were to borrow money.