M Quest M QU. X

5

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nework: Residential Real Estate Fundamentals Assignment

Mc

Graw

Hill

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Problem 8-2

Account

(1)

(2)

(3)

Mail

ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%2

Required A

Limit

$ 5,000

10,000

15,000

Beaco Join co

A potential home buyer is wondering about her credit card accounts and the effect that they may have on her credit score which will

follows:

be evaluated when she applies for a mortgage loan. At present, she has three accounts with credit limits and balances outstanding as

Current capacity

She would like to transfer the balance in account #2 to account #3 in order to save the membership fee and because the interest

charges for account # 2 are higher than the others. If she does this account #2 would be closed.

F2

Required B

Type here to search

Complete this question by entering your answers in the tabs below.

Outstanding Balance

F3

$3,600

5,600

8,600

Required:

a. How much credit capacity is she currently using?

b. If she cancels account number 2 and transfers the balance to account number 3, what will be the capacity used now?

used in all accounts prior to the transfer?

c. After the transfer, how much would an increase in the total credit limit have to be in account number 3 to restore the total capacity

Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It do

How much credit capacity is she currently using?

Note: Enter your answer as a percent rounded to 1 decimal place.

Required C

Gradi

53.4 X %

F4

Answer is complete but not entirely correct.

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Required B

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