Veronique and Lily each bought a piece of luggage that had the same price in different stores. The table below shows how they will pay for the item. Payment for PurchasesNamePayment TypePayment Amount (Including Finance Charges)Number of Months to Pay for ItemVeroniqueStore financed$2510LilyCredit card$357Who made the better financial decision and why?
What might you expect to find out about people who are described as credit risks?
Omar is having trouble paying his rent and making minimum payments on his student loan and credit cards. What should Omar consider doing to improve his situation?
Which statement describes a disadvantage of Marnie paying a bill by telephone with a credit card or a debit card?
Which is a long-term consequence of making late payments on your bills?
Which payment option provides consistency in on-time bill payment?
Which person made the best payment decision for their preferences?
Which is a possible benefit of having a good credit history?
Jaina and Tomas are being considered as new tenants in an apartment. The landlord looks at their creditworthiness because he wants to be sure his new tenant pays the rent on time and in full. The table below summarizes the information that was on their applications.Application informationQuestionsJainaTomasHow many years have you had your job?52What is your monthly salary?$1,850$2,500How many credit cards do you have?41How much debt do you have?$13,000$7,000How many times were you late with payments on credit cards in the past year?51Who will the landlord decide to be more creditworthy and why?
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