Marshall-• Graduated college two years ago, and now lives a solidly middle-income lifestylePaying his student loans, rent, and all of his other expenses on-time• Has 6 credit cards open already, each of which he signed up for because of introductoryperks like 0% interest for the first year, free airline miles, and 20% off his first month'spurchases at his favorite storePays his full balance each month and stops using the card once the initial featuresexpire.• Wants to open a 7th card that's offering free one-way flights to the Caribbean; hasenough money saved to pay for the return flight and other aspects of the vacation●● 1. Do you recommend this person open a credit card account? Why or why not?2. If they do open the new credit card account, what's one thing this individual should monitoror use caution?

Credit cards are a type of payment card that allow individuals to borrow money up to a certain…

Answered: Marshall- • Graduated college two years…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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