Read each question carefully. Choose the answer that best completes the sentence.
1. Debt is usually expected in any of the following cases EXCEPT ____. (1 point)
purchase of house
credit card purchases
purchase of car
educational loans
2. When paying down debt, it is best to _____. (1 point)
pay as much as possible toward the debt at the beginning of the month
pay as much as possible toward the debt at the end of the month
pay part toward the debt and part toward a savings account at the beginning of the month
pay part toward the debt and part toward a savings account at the end of the month
For questions 3 and 4, you will be answering by filling in the blanks. Please be aware that your answer must
include any commas or decimals in their proper places in order to be correct. The dollar signs have been provided.
For example, if the answer is $1,860.78, then you will enter into the blank 1,860.78. Do not place any extra spaces
between numbers, commas, or decimal places. Round any decimals to the nearest penny when the answer involves
money, so that $986.526 would be typed into the blank as 986.53 and $5,698.903 would be typed into the blank as
5,698.90.
3. You owe $1,350.00 on a credit card with a 14.25% APR. You pay $300.00 at the beginning of
the month. How much interest do you save by paying at the beginning of the month versus
at the end of the month?
(1 point)
$
4. Imagine you put the $300 in a savings account earning 3.0% APR instead of using it to pay
down your credit card as in Problem 3. What is the difference between the interest your
savings account would earn that month vs. the interest that would accrue on your credit card
that month if you didn't use the $300 to pay it down?
(1 point)
Someone please help me i am failing and have a D and need to bring my grade up SOMEONE WITH THE CORRECT ANSWERS AND ACTUALLY KNOW THE ANSWERS FOR THIS PLEASE HELP ASAP!!