Question 42 A) When Burt learned that his creditors routinely report his financial data to the major credit reporting agencies, he wondered what kind of score he had established. Which is the largest component in calculating Burt’s FICO score? (1 point) Responses new credit new credit length of credit history length of credit history types of credit in use types of credit in use payment history payment history
3 answers
Payment history is the largest component in calculating Burt's FICO score.
Question 43 A) When Pei received a one-time inheritance from her grandmother, she considered including it in her budget as income. What is the problem with taking that approach? (1 point) Responses Including it would make her average income estimate less accurate. Including it would make her average income estimate less accurate. The inheritance can be considered an investment for tax purposes. The inheritance can be considered an investment for tax purposes. The inheritance is not a fixed expense. The inheritance is not a fixed expense. Adding the inheritance would make it less liquid. Adding the inheritance would make it less liquid.
Adding the inheritance as income in her budget would make it less accurate as the inheritance is not a fixed source of income.