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

part of ranias credit report is shown below.\nanswer the following questions.\n(a) which account has the largest balance?\ncharming shop school is fun inc\nceleb card dream kitchen\n(b) which accounts are open? check all that apply.\ncharming shop school is fun inc\nceleb card dream kitchen none of these\n(c) it takes 7 years for negative credit history to be removed from the credit report.\nin what year will the late - payment at dream kitchen be removed from the report?

part of ranias credit report is shown below.\nanswer the following questions.\n(a) which account has the largest balance?\ncharming shop school is fun inc\nceleb card dream kitchen\n(b) which accounts are open? check all that apply.\ncharming shop school is fun inc\nceleb card dream kitchen none of these\n(c) it takes 7 years for negative credit history to be removed from the credit report.\nin what year will the late - payment at dream kitchen be removed from the report?

Answer

Explanation:

Step1: Check balances

Charming Shop: $0$, School is Fun Inc: $0$, Celeb Card: $0$, Dream Kitchen: $525$.

Step2: Identify open - status accounts

Charming Shop: Closed, School is Fun Inc: Closed, Celeb Card: Closed, Dream Kitchen: Open.

Step3: Calculate removal year for negative history

Late payment in June 2009, add 7 years: 2009 + 7=2016.

Answer:

(a) Dream Kitchen (b) Dream Kitchen (c) 2016