Business, 15.02.2021 20:30 shannydouglas
Majestic Bank offers loans at various interest rates, depending on the nature of the loan.
Kevin wants to borrow $230,000 for a new home. He promises to pay back the loan in 10 years. Maria also wants to borrow $230,000 for a new home. She promises to pay back the loan in 15 years. Assume Kevin and Maria are equally creditworthy and that the two home mortgages are the same in all other aspects.
If all else is constant, the bank would most likely charge a higher interest rate to (Kevin/Maria) .
Answers: 3
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Majestic Bank offers loans at various interest rates, depending on the nature of the loan.
Kevin wa...
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