Chapter 5. Consumer Credit: Advantages, Disadvantages, Sources, and Costs

  • Due Feb 7, 2018 by 11:59pm
  • Points 100
  • Submitting a file upload
  • Available Jan 25, 2018 at 12am - Feb 7, 2018 at 11:59pm
This assignment was locked Feb 7, 2018 at 11:59pm.

Please submit your chapter notes along with your responses to the following Discussion Questions: (p. 178)

  1. Vicky is trying to decide whether to finance her purchase of a used Mustang convertible. What questions should Vicky ask herself before making her decision?

 

  1. List advantages and disadvantages of using credit.

 

  1. To finance a sofa for his new apartment, Caleb signed a contract to pay for the sofa in six equal installments. What type of consumer credit is Caleb using?

 

  1. What factors (including psychological) would you consider in assessing the choices in declaring personal bankruptcy? Why should personal bankruptcy be the choice of last resort?

 

  1. Samuel applied for a loan to purchase a new car. His application was denied.  What should he do now?

 

  1. Diane wants to purchase a home in the next five years. She knows how important a good credit score is for getting a lower interest rate.  What are some ways she can continue to improve her credit score over the next few years?

 

  1. Why is it important to avoid the minimum monthly payment trap?

 

  1. Grayson just received his credit card statement. He noticed a charge for $40 to a store he has never patronized.  What steps should he take to handle this?
1518073140 02/07/2018 11:59pm