Question: 41. Explain, using complete sentences, the difference between simple interest and compound interest. (6 points) 42. Describe, using complete sentences, the advantages and disadvantages of

41.

Explain, using complete sentences, the difference between simple interest and compound interest. (6 points)

42.

Describe, using complete sentences, the advantages and disadvantages of using a credit card. (6 points)

43.

Complete each part.

Part I: List the different parts of a credit report.

Part II: Explain how public records information affects your credit score.

Part III: Explain what your credit score indicates to potential lenders.

(6 points)

44.

Explain, using complete sentences, why it is rare to find someone who has a savings account, but not a checking account. (6 points)

45.

Explain, using complete sentences, how someone might snowball their debt according to the interest rate. What are the benefits to snowballing debt? (6 points)

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