This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
Determine the finance rate for each applicant.

ScanSolve AI Answer
The finance rates are determined by the following rules:
- 4% finance rate: Credit score above 650 AND at least 95% on-time payments.
- 6% finance rate: Credit score above 500 AND at least 90% on-time payments.
- 7% finance rate: All other applicants.
The visible data in the table corresponds to Charlie:
- Total payments: 1,080
- On-time payments: 993
- Credit Score: 575
Step 1: Calculate Charlie's on-time payment percentage.
Step 2: Determine Charlie's finance rate based on the rules.
-
Check for 4% rate:
- Credit score (575) is not above 650.
- On-time payments (91.94%) is not at least 95%.
- Charlie does not qualify for the 4% rate.
-
Check for 6% rate:
- Credit score (575) is above 500.
- On-time payments (91.94%) is at least 90%.
- Charlie qualifies for the 6% rate.
Therefore, Charlie's finance rate is 6%.
Step 3: Determine the finance rates for other applicants. The specific data (Total payments, On-time payments, Credit Score) for Beatrice, Daniela, and Ella is not visible in the image. However, the image shows pre-selected rates for Beatrice and Daniela.
- Beatrice: The image shows 4% selected for Beatrice.
- Daniela: The image shows 7% selected for Daniela.
- Ella: No data or selected rate is visible for Ella, so her rate cannot be determined from the provided image.
The finance rates for each applicant are:
- Beatrice:
\boxed{4%} - Charlie:
\boxed{6%} - Daniela:
\boxed{7%}
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