Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.8 Credit Cards - Exercise Set 8.8 - Page 565: 23

Answer

Does not make sense.

Work Step by Step

Credit scores of the users availing credit card facility are evaluated to determine their creditworthiness. A person having higher credit score indicates the better creditworthiness. The scores of an individual generally range from 300 to 850 depending upon the creditworthiness that they possess. A person having credit score ranging from 630 to 649 is considered as the fair user and he may avail credit but certainly on high-interest rates. Accordingly, a person with this score may be denied for a car loan at low-interest rates. A person having a credit score of 630 can be denied from availing the car loan at low-interest rates. Hence, the given statement does not make sense.
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