part of jims credit report is shown below.\nanswer the following questions.\n(a) which account has the…

part of jims credit report is shown below.\nanswer the following questions.\n(a) which account has the largest balance? home decor co credit inc jewelrydotcom\n(b) which accounts are closed? check all that apply. home decor co credit inc jewelrydotcom none of these\n(c) it takes 7 years for negative credit history to be removed from the credit report. in what year will the late payment at jewelrydotcom be removed from the report?

part of jims credit report is shown below.\nanswer the following questions.\n(a) which account has the largest balance? home decor co credit inc jewelrydotcom\n(b) which accounts are closed? check all that apply. home decor co credit inc jewelrydotcom none of these\n(c) it takes 7 years for negative credit history to be removed from the credit report. in what year will the late payment at jewelrydotcom be removed from the report?

Answer

Explanation:

Step1: Compare account balances

Home Decar Co has balance $0$, Credit Inc has balance $$450$, JewelryDotCom has balance $$104$. Since $450>104 > 0$, Credit Inc has the largest balance.

Step2: Identify closed - accounts

Check the 'Current status' column. Home Decar Co has status 'Closed 08/2008', while Credit Inc and JewelryDotCom have status 'Open'. So the closed account is Home Decar Co.

Step3: Calculate removal year of negative credit

The late payment at JewelryDotCom was in Oct 2013. If it takes 7 years for negative credit history to be removed, then $2013 + 7=2020$.

Answer:

(a) Credit Inc (b) Home Decar Co (c) 2020