Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Concept explainers
Question
7, and 8
Transcribed Image Text:b) Suppose
C
When would be the last
balance without paying interest? March
●
c) Should Sonia pay for the course on January 29 or
will have more time to patr
Paid before the statement.
wait until February 2? Explain.
off the balance on her Credit Card before
if she
Her Credit Card has a zzgrace period and senterest starts to accrue.
feb 2, she'll have until her next pay day (feb24) to pay off balance.
interest Chorges
5. Jackson just started his first job as a welder in Langley. He
wants to apply for a credit card.. Circle the advantages of a
credit card. Cross out the disadvantages.
build credit
earn rewards
can use in case of emergency
lose track of money owing
22
23
29 30
●
0028
31
easy to spend more tha
easy to make unplanne
keep track of expenses
interest can grow large
6. Why might you choose a card with a higher interest rate?
I don't think anyone should choose a card with hi
You don't pay it off on time? the interest would ic
it harder to pay off debt
7. Why might you choose a card with an annual fee?
8. Why is it wise to pay the full balance on a credit card?
Chapter 5
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