Social studies

posted by Kaylee

1. If a consumer makes monthly payments of $250 to pay off a car loan, what type of credit is she
using?
(1 point)
non­revolving ••

revolving

short term

unsecured

2. Caitlin wants to buy an airline ticket, but she’s uncomfortable taking that much cash to the
counter at the airport. Instead, she uses her credit card. Which advantage of credit is being
demonstrated here?
(1 point)
emergencies

building a credit line

protection of purchases

purchase power ••

3. Which is an example of a variable expense category? (1 point)

car payment

gym membership

birthday gifts ••

insurance

4. What is a benefit of using a financial tool to track your budget? (1 point)

It provides you discounts for the things you buy most often.

It gives you a visual of your income and expenses. ••

It keeps all of your personal information protected.

It makes banks more likely to offer you low-interest rates.

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