5 Lacy Daniels just graduated from collegeand has a full time job. Lacy travelsfrequently for work but wants to stay inshape and exercise when she is home. Alocal gym offers a rate of $12 for a dayvisit or $90 for a month membership.Part 1: Which plan is a better choice forLacy and explain why? (hint: it willdepend on how many times she plans toexercise/month!Part 2: Choose 2 students post andindicate if you think Lacy is getting goodadvice and why.

Monthly membership means the whole month's fees. The monthly membership covers the fees for the…

Answered: Part 1: Which plan is a better choice…

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter9: Insuring Your Health

Section: Chapter Questions

Problem 2FPE

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REFLECTING Should Jill consider a payday loan to purchase the refrigerator? Explain. Hint APR means annual percent rate. 2. Jill is buying a new refrigerator. She cannot afford to pay cash. Should she use a credit card or get a personal loan? Justify your answer. 3. Liam, a taxi driver in Revelstoke, wants to buy a new taxi. He was approved for the loans in this chart. a) What should Liam think about when he chooses a loan? should Choose the Lost Fixed APR payments for 4 Apprenticeship and Workplace 11 secured personal 5.5% loan auto loan 7.5% b) Which loan should Liam choose? Explain why. 4 yr 6 yr 4. Hannah says that using payday loans and cash advances on credit cards are bad choices for borrowing money. Do you agree or disagree? Explain. NEL
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Part 1: Which plan is a better choice for Lacy and explain why? (hint: it will depend on how many times she plans to exercise/month! Part 2: Choose 2 students post and indicate if you think Lacy is getting good advice and why.