Isaac Primack recently graduated from college and is evaluating two credit cards. Card A has an annual fee of $75 and an interest rate of 9 percent. Card B has no annual fee and an interest rate of 16 percent. Assuming that Isaac intends to carry no balance and to pay off his charges in full each month, which card represents the better deal? If Isaac expected to carry a significant balance from one month to the next, which card would be better? Explain.
Answer to relevant QuestionsJanine Waite has several credit cards, on which she is carrying a total current balance of $14,500. She is considering transferring this balance to a new card issued by a local bank. The bank advertises that, for a 2 percent ...1. Advise the Morales on how to fill out a credit application.2. Explain to them the procedure that the bank will probably follow in processing their application.3. Tell them about credit scoring and how the bank will arrive ...Discuss the role in consumer lending of(a) Credit unions(b) Savings and loan associations.Point out any similarities or differences in their lending activities. How do they compare with commercial banks?What two questions should be answered before taking out a consumer loan? Explain.After careful comparison shopping, Dustin Creamer decides to buy a new Toyota Camry. With some options added, the car has a price of $23,558—including plates and taxes. Because he can’t afford to pay cash for the car, he ...
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