Question

You have a student loan for $12674.00. What number is the rate multiplier in the i=prt formula if you have an average credit rating?

7.15
7.80
0.0715
0.0780

Answer 1

Hello my names Keenan :)


unsecured credit and most student can only pay it several years after they got their job,

So the rate multiplier for average credit rating would be:
7.80 %

Answer 2

Answer with explanation:

Amount of Loan taken by a student = $ 12674.00

Points kept in mind while approving a loan

→The ratio of Debt to income should not be more than 36%.

→Average credit score ,for approving a loan = 780

Credit Score tells us about an individual,How well he or she is in payments of debts, loans or mortgages.

Average Credit rating (for Student loan)=780

Rate Multiplier in i=p r t, formula, can be obtained by

`r=\frac{\text{Average Credit rating (for Student loan)}}{100}\\\\ r=(780)/(100)=7.80`

Option B: 7.80