Which statement describes a risk of taking on debt?
a
It allows you to buy things now and pay later.
b
It does not affect your credit score if you pay it off in a timely manner.
c
It could affect your ability to take out other loans.
d
It might result in the interest rates on other loans to increase.
Question 23 (1 point)
What is the word for a fee based on a percentage of money borrowed?
a
collateral
b
credit
c
debt
d
interest