How do credit and interest, in the form of a modern credit card, compare with the early
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In order to give any kind of loan - be it a small business loan, credit card, home equity loan, etc. - the lender has to determine the borrower's ability to repay the loan, or creditworthiness. Throughout history, money-lenders and banks have established different criteria for determining a borrower's creditworthiness. Can you come up with some examples of what criteria you think medieval banks would have used to establish creditworthiness.
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Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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