Question

ages of following a strict repayment schedule? check all that need for secured credit. onal fees from being charged. borrower possible new loans. interest rate increases. borrower is responsible.

Explanation:

To determine the advantages of a strict repayment schedule, we analyze each option:

1. "need for secured credit" – A strict repayment schedule builds creditworthiness, reducing the need for secured credit (which requires collateral), so this is an advantage.
2. "onal fees from being charged" (likely "additional fees") – Paying on time avoids late fees, so this is an advantage.
3. "borrower possible new loans" – Good repayment history makes lenders more likely to approve new loans, so this is an advantage.
4. "interest rate increases" – A strict schedule doesn't cause interest rate increases; in fact, good credit may lead to lower rates, so this is not an advantage.
5. "borrower is responsible" – Following a repayment schedule demonstrates financial responsibility, which is an advantage.

So the correct options are the ones related to avoiding additional fees, enabling new loans, reducing secured credit need, and showing responsibility. (Assuming the options are: [Option 1: Reduces the need for secured credit, Option 2: Prevents additional fees from being charged, Option 3: Makes the borrower eligible for possible new loans, Option 4: Causes interest rate increases (incorrect), Option 5: Shows the borrower is responsible])

Answer:

A. Reduces the need for secured credit, B. Prevents additional fees from being charged, C. Makes the borrower eligible for possible new loans, E. Shows the borrower is responsible