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3.
Enumerate the five C's of credit and describe each.​


Sagot :

Answer:

Explanation:

The first C is character—reflected by the applicant's credit history

The second C is capacity—the applicant's debt-to-income ratio.

The third C is capital—the amount of money an applicant has.

The fourth C is collateral—an asset that can back or act as security for the loan.

The fifth C is conditions—the purpose of the loan, the amount involved, and prevailing interest rates.