7
QuizMultiple Select

Financial Responsibility

Question 7 • 2027 Ignite Financial Literacy-Personal Finance - EL3403

Lakesha does not have enough in her bank account to use a debit card for the purchase of a bike she needs to get to work. She has to decide whether to use a credit card or to finance the bike through the store. Which questions should Lakesha answer before making her decision? Check all that apply.

Answer
A
Will this cause my bank account to have a negative balance?
B
What is the difference in the finance charges for the two choices?
C
How much will the bike cost when adding the finance charges to the price?
D
Should I talk to a consumer credit counseling service?
E
Can I pay at least the minimum payment each month?
F
Will I be able to make the payments and avoid late fees?
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