The chart describes how four of Susan's friends handle their money.

\begin{tabular}{|c|l|}
\hline \multicolumn{2}{|c|}{Handling Money} \\
\hline Person & \multicolumn{1}{|c|}{Description of Spending} \\
\hline Sylvia & \begin{tabular}{l}
She uses her whole paycheck to buy food and necessities and pay the minimum \\
amount on her bills each month. Then, she buys new clothes and pays for them with \\
a credit card.
\end{tabular} \\
\hline Nancy & \begin{tabular}{l}
She uses her whole paycheck to buy food and necessities and then takes a trip each \\
month, which she pays for by adding to a personal loan with her credit union.
\end{tabular} \\
\hline Fiona & \begin{tabular}{l}
She buys food and necessities and pays more than the minimum due on her bills \\
each month. She goes out with her friends using some of the money that is left over in \\
her checking account.
\end{tabular} \\
\hline Uli & \begin{tabular}{l}
She buys food and necessities and pays the minimum amount on her bills each \\
month. She goes out with her friends using the money that is left over in her savings.
\end{tabular} \\
\hline
\end{tabular}

Which person is most creditworthy?

A. Sylvia
B. Nancy
C. Fiona
D. Uli

Question

24-07-2024
Business

Answered

The chart describes how four of Susan's friends handle their money.

\begin{tabular}{|c|l|}
\hline \multicolumn{2}{|c|}{Handling Money} \\
\hline Person & \multicolumn{1}{|c|}{Description of Spending} \\
\hline Sylvia & \begin{tabular}{l}
She uses her whole paycheck to buy food and necessities and pay the minimum \\
amount on her bills each month. Then, she buys new clothes and pays for them with \\
a credit card.
\end{tabular} \\
\hline Nancy & \begin{tabular}{l}
She uses her whole paycheck to buy food and necessities and then takes a trip each \\
month, which she pays for by adding to a personal loan with her credit union.
\end{tabular} \\
\hline Fiona & \begin{tabular}{l}
She buys food and necessities and pays more than the minimum due on her bills \\
each month. She goes out with her friends using some of the money that is left over in \\
her checking account.
\end{tabular} \\
\hline Uli & \begin{tabular}{l}
She buys food and necessities and pays the minimum amount on her bills each \\
month. She goes out with her friends using the money that is left over in her savings.
\end{tabular} \\
\hline
\end{tabular}

Which person is most creditworthy?

A. Sylvia
B. Nancy
C. Fiona
D. Uli

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-07-24T12:23:42-04:00

To determine which of Susan's friends is the most creditworthy, we need to analyze each person's spending habits and how they manage their finances.

1. Sylvia:
- Uses her whole paycheck to buy food and necessities.
- Pays the minimum amount on her bills.
- Buys new clothes and pays for them with a credit card.

2. Nancy:
- Uses her whole paycheck to buy food and necessities.
- Takes a trip each month, which she funds by adding to a personal loan with her credit union.

3. Fiona:
- Buys food and necessities.
- Pays more than the minimum due on her bills.
- Goes out with friends using the leftover money in her checking account.

4. Uli:
- Buys food and necessities.
- Pays the minimum amount on her bills.
- Goes out with friends using the money leftover in her savings account.

To identify the most creditworthy friend, let's consider the factors that would influence creditworthiness:
- Consistently meeting financial obligations on time.
- Paying more than the minimum on debts, which reduces overall debt and interest.
- Not taking on additional debt unnecessarily.

From the descriptions:
- Sylvia uses a credit card to buy clothes, which may increase her debt.
- Nancy funds her trips by adding to a personal loan, increasing her debt.
- Uli pays the minimum on her bills and uses money from her savings to go out.

Fiona, however, stands out because:
- She pays more than the minimum due on her bills, which helps reduce her debt faster and indicates a responsible approach to debt management.
- Any additional spending is done with leftover money in her checking account, indicating she is not taking on new debt.

Based on these considerations, Fiona appears to be the most creditworthy among Susan's friends due to her responsible financial management and efforts to pay down debt consistently.