Please answer the question in the image first and the rest after, please answer all, Question 1. When would you would use a Personal Loan? Why would you choose a Personal Loan over other methods of Credit?Question2 . When would you use a Mortgage? Why would you choose a Mortgage over other methods of Credit? Question 3. Do you think a person should have several credit cards? Why or why not?Question 4. At what age do you see yourself taking out a mortgage for a house? Explain.Question 5. The qualities you look for in a friend are the same qualities a lending institution hopes to find in you. Do you agree or disagree with this statement? Explain.Question 6. Suppose you are a loans officer in a bank. List three questions you would want to ask a customer who has come in to borrow $15 000 to buy a new boat?Question 7. Are the following Good Credit Risks? Check those that are (x) and explain your reasoning.? SaskTel employee, full time, employed for 5 years? Secretary, part time, employed for 10 years? Gas jockey, works part time on weekends, employed for 2 months? Student, no job? Lawyer, full time, employed for 20 years? Teacher, full time, employed for 7 years? Grain farmer, full time, employed for 32 years? Management trainee, part time, employed for 2 weeks? Taxi driver, full time, employed for 17 years? Delivery person, works part time on weekends, employed for 10 months ? Waiter, part time, employed for 1 year? Waitress, full time, employed for 12 years? Dentist, full time, opened own practice 2 months ago? Seasonal worker with the city, full time, employed only for summer months ? Unemployed person? Business owner, part time, employed for 5 years

1. Jim has a credit card with a credit limit of $9000.00. For each of the following monthly balance, calculate the minimum monthly payment. Minimum Balance Work/Reasoning Payment $8.50 $40.00 $550.00 $9120.00 $7862.95