Question

A bank is considering making a loan to Ron Weasley. Ron has a gross salary per month of $4,000 but has take-home pay of $2,800 per month. What aspect of evaluating a consumer loan application is this fact most concerned with

Answer 1

Answer: b. Income level

Step-by-step explanation:

One aspect of loan applications considered by a bank is the income level of the applicant. Here the bank looks at the possibility of the customer paying back the loan based on their income level.

The basic factor looked at here is the income of the consumer as well as their take-home pay as the latter is where the loan repayment will come from.