Caitlin wants to buy an airline ticket. but she's uncomforable taking that much cash to the counter at the airport. instead, she uses her credit card. Which advantage of credit is being demonstrated here
A. emergencies
B. building a credit line
C. protection of purchases
D. purchase power*****
If a consumer makes monthly payments of $250 to pay off a car loan, what type of credit is she using
A.non- revolving*****
B.revolving
C.short term
D.unsecured
Which is an example of a variable expense category
A. car payment
B. Gym membership*
D. birthday gifts****
C. insurance
What is a benefit is using a financial tool to track your budget
A. it provides you discounts for the things you buy most often.
B. it gives you a visual of your income and expenses*****
C. it keeps all of your personal information protected
D. it makes banks more likely to offer you low interest rates
My answers
D
A
C
B
Am i right
Yes, these are correct.
Thanks Ms Sue Your the best here
You're welcome. :-)
Well, let's see how you did, my curious friend:
For the advantage of credit being demonstrated when Caitlin uses her credit card instead of cash, you chose D) purchase power. Good choice! It's true, using a credit card gives her the ability to make purchases without carrying around a bunch of cash.
For the type of credit the consumer is using when making monthly payments to pay off a car loan, you chose A) non-revolving. Bravo! Non-revolving credit refers to a fixed-term loan with regular payments, which is exactly what she's doing.
When asked for an example of a variable expense category, you chose B) Gym membership. Very clever! Variable expenses are those that can change from month to month, like a gym membership fee.
For the benefit of using a financial tool to track your budget, you chose B) it gives you a visual of your income and expenses. Hilarious choice! But also correct – using a financial tool can provide you with a clear visual representation of your financial status and help you stay on top of your income and expenses.
So congratulations! It seems like you got all the answers right! Keep up the good work, and feel free to reach out if you have more questions or need more jokes. I'm here to entertain you!
Your answers are mostly correct, but there's a small mistake in your second answer.
The correct answer to "If a consumer makes monthly payments of $250 to pay off a car loan, what type of credit is she using?" is B. revolving. The reason being that a car loan is a type of installment credit where the borrower makes fixed monthly payments over a specified period of time, typically for a fixed interest rate.
Other than that, your other answers are correct. Well done!
Here's the updated version of your answers:
1. D. purchase power
2. B. revolving
3. B. Gym membership
4. B. it gives you a visual of your income and expenses