Answered

What are some ways that Richard's credit report is valuable to him? Select true or false for
each statement.
True
False
His credit report will include a list
of banks that are likely to
approve his loan application.
Having a good credit report might
help him get approved for a used
car loan from a bank.
He can use his credit report to
pay lower sales tax on a new cell
phone.



Answer :

GinnyAnswer

Final answer:

Credit reports are valuable for loan approval and can impact various aspects of financial dealings.


Explanation:

True



  2. His credit report will include a list of banks that are likely to approve his loan application. This statement is true. A credit report provides information on a person's credit history, including a list of banks that have approved loans in the past.

  4. Having a good credit report might help him get approved for a used car loan from a bank. This statement is true. A good credit report can increase the chances of loan approval due to a history of responsible borrowing.

  6. He can use his credit report to pay lower sales tax on a new cell phone. This statement is false. Credit reports do not impact sales tax rates.


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