OpenStax_College Success_Slides_ch10 (kc Revised...

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College SuccessChapter 10: UNDERSTANDING FINANCIAL LITERACYFinancial success depends on getting a good start and avoiding setbacks andwrong turns. It’s a lifelong process, more like a marathon than a sprint.
QUESTIONIf you use your credit card to purchase a $1500.00 laptop and youmake the minimum payments (usually 3% = $45.00 each month), howlong will it take you to pay off your bill for this purchase?1.13 months(just over a year)2.33.3 months (almost 3 years)3.162 months (almost 14 years)This Photoby Unknown Author is licensed underCC BY-SA
1.I actively and regularly plan and/or monitor my finances.
2.I completely understand the benefits and risks of credit.
3.I have a plan to repay my student loans.
4.I regularly take steps to protect my identity and assets.

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Term
Summer
Professor
N/A
Tags
Debt, Personal Finance, Credit card, Cheque, Credit history

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