Q.Repayment of the loan is dependent on the
á. Chances of winning a gamble
b. Chances of winning a lottery
c. Chances of winning a bet.
d Income
Answers
Answer:
d)income
Explanation:
teh repayment of the loan is dependent on the income of the person who had taken loan
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Answer:
When designing a loan repayment system, income is the most appropriate factor to base the repayment of the loan on. Here option D is the correct answer.
Explanation:
When designing a loan repayment system, it is essential to consider factors that are within the borrower's control and are reliable predictors of their ability to pay back the loan. In this scenario, options a, b, and c involve chance or luck, making them unreliable indicators of the borrower's ability to repay the loan.
The repayment system should consider the borrower's income and their ability to pay back the loan comfortably without straining their finances. A repayment schedule could be set up based on the borrower's income, which would involve dividing the loan amount into equal installments spread over a certain period. The borrower would then make regular payments over this period until the loan is fully repaid.
Additionally, lenders could also consider the borrower's credit score, employment status, and other relevant financial information to determine the repayment schedule. This would help to ensure that the borrower can comfortably make the payments without defaulting.
To know more about the concept please go through the links:
https://brainly.in/question/7770462
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