Question

Which of the following people has "paid on time,' an important requirement in
credit agreements?
Suzan borrowed $400 from her grandmother to buy an iPad and promised
to pay $10 a week for 40 weeks until the loan was paid back. Suzan
OA.
missed about 8 weekly payments but managed to pay her grandmother the
whole amount by the end of the 40 weeks.
Carlos moved into his own apartment about a year ago. The gas and
OB. electric bills are usually due on the 25th of the month. Carlos faithfully pays
those bills on the 2nd of the next month when he gets pald.
Tamara's parents co-signed a car loan for her new wheels. Her monthly
payment is due by the 15th of each month. So far she has made the
O c. payment each month. But on three months, she sent her payment after the
due date because she had not yet received her bi-weekly paycheck from
her part-time job. One time she was more than 30 days late.
Josh has a 36-month loan for his new truck. Each month's payment is due
OD. by the 10th of the month. Josh always mails his coupon and payment by
the first of the month.

Answer 1

OD. Josh has a 36-month loan for his new truck. Each month's payment is due  by the 10th of the month. Josh always mails his coupon and payment by  the first of the month is the correct answer.

Good credit history is an important factor for a person with a credit card. This shows that the person is reliable and also presents that person to further monetary 'loans'.

• The term "paid on time" is what it is, referring to the person's ability to pay back his/her credits on time.

• This means the timely payment of one's credit card usages without any gap in the required payment window.

• Among the given people, only Josh who took a 36-month loan for a new truck has "paid on time."

• This is evident in his effort of "mailing his coupon and payment by the first of the month" while his loan requirement was that he pays his die by the 210th of every month.

• Susan couldn't pay her $10 a week payment for 8 weeks.

• Carlos only paid his gas and electric bills by the 2nd of the next month, and not by the 25th of the month as required.

• Tamara's payment for her new car was made only after the due date.

"On time" payments mean the credits due are paid within the required window of payment given. And on that regard, only Josh was able to do the needful. Thus, the correct answer is option D.

Learn more about credit usage here:

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