Maria Ivanov has owned a successful clothing boutique chain for 20 years. She has gone into debt several times to expand her business. Each time, she paid off the debt in full sooner than expected. Question Use the scenario to answer the question. How will Maria’s record affect the loans she is offered? (1 point) Responses She will be offered longer terms. She will be offered longer terms. She will be offered shorter terms. She will be offered shorter terms. She will be offered lower interest rates. She will be offered lower interest rates. She will be offered higher interest rates.
1 answer
Given Maria Ivanov's history of successfully managing her debt and paying it off sooner than expected, she is likely to be viewed positively by lenders. This track record suggests that she is a responsible borrower. As a result, she will most likely be offered:
She will be offered lower interest rates.
This is because lenders typically reward responsible borrowers with more favorable loan terms.
