SCENARIO 2-9
The frequency distribution below represents the rents of 250 randomly selected federally subsidized apartments in a small town.
-Referring to Scenario 2-9,_____percent of the apartments rented for $1,400 or more.
Definitions:
Credit
The trust which allows one party to provide resources to another party wherein the second party does not reimburse the first party immediately but promises either to repay or return those resources at a later date.
Delinquency Letter
A notification sent by a lender to the borrower indicating a missed payment and the start of delinquency.
Collection Agency
An organization tasked with pursuing payments of debts owed by individuals or businesses.
Legal Action
A step initiated in a court of law by an individual or entity to enforce or defend a legal right.
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