Business

Business, 23.10.2019 04:00, bannedccnt

An online lender offers $3,500 consumer loans and their are two types of borrowers, high & low. high types repay with probability 1 and low types repay with prob. 0.82. after screening the lender estimates that approved borrowers are type high with prob. x and type low with prob. 1-x. if the bank wants to charge an interest rate of 10%, what is lowest x that will allow this?

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An online lender offers $3,500 consumer loans and their are two types of borrowers, high & low....

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