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Your little sister Tiffany is beginning to cause you some concern. She wants to borrow $480 from you today and promises to pay you $500 in one year. You earn 3% on your deposits. Disregarding what your
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Your little sister Tiffany is beginning to cause you some concern. She wants to borrow $480 from you today and promises to pay you $500 in one year. You earn 3% on your deposits. Disregarding what your 9 year-old sister would need $480 for, would this be a good loan for you to make?

User Rohit Dalal
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5 votes
Answer:

No, I don’t think this would be a good loan to make. Even if your sister means the world to you and you believe giving her that amount of money must be for a good cause… you should find out what the loan is for. After all, your sister is a 9 year-old.

Hope it helped! Have a good day.
User Muirik
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