5. Truc or False Indicate whether each statement is true or false. a. Having no credit history can cause someone to get high interest rates on loans and credit cards. b. If you pay only the minimum payment required by the credit card company on your credit card balance, it will hurt your credit. c. Student loans are an example of revolving credit. d. You have 45 days to report suspicious charges on your credit card. e. Filling out multiple credit card applications does not hurt your credit rating. f. The best way to avoid interest charges is to pay your balance in full each month. g. The most that you can charge on your credit card is the credit limit. h. Credit is when a good or service is exchanged with a promise to pay the amount back later. i. Credit card companies. give customers flexibility of up to 2 or 3 days from the due date before they start charging any fees. j. A benefit to using a credit card is that you are not liable for any charges that a thief makes using your card. k. Credit cards do not charge for getting a cash advance at an ATM or by writing a check. 1. The amount of time you have before a transaction accrues interest is called the grace period. 6. Christina works for a law firm and makes $46.850 a year. Determine how much money she will have available each month after taxes and her current expenses. i) 14% Federal income tax: Total taxes: % ii) 6.2% FICA tax Total taxes: $ iii) 1.45% Medicare tax After-tax income: S iv) 4.0% State tax i) Housing 30% ii) Utilities 5% iii) Food 20% iv ) Essentials 2% v) Medical 5% vi) Clothing 7% vii) Transportation 15% vili) Savings 8% ix) lun 2% Total Monthly Expenses S