Question: Discuss some ways that charging large amounts on your credit
Discuss some ways that charging large amounts on your credit cards might affect your overall financial planning.
Answer to relevant QuestionsWhat are the three methods used by financial institutions to calculate finance charges on outstanding credit card balances? Briefly describe how interest is computed under each method. Describe the differences between a credit card like MasterCard or Visa and a retail ( or proprietary) card. How do credit and retail cards generate revenue? What is the biggest disadvantage of a proprietary card? Jarrod has narrowed his choice to two credit cards that may meet his needs. Card A has an APR of 21%. Card B has an APR of 14%, but also charges a $ 25 annual fee. Jarrod will not pay off his balance each month, but will ...Advise the Sampsons on whether they should continue making minimum payments on their credit card or use money from their savings to pay off the credit balance. What is simple interest? What information is needed to compute it? What information is contained in a loan repayment schedule?
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