PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN: 9781337117005
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 6, Problem 4FPE
Summary Introduction
To determine: The Person D should purchase a debit card or credit by laying down their benefits and drawbacks.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Imagine you're trying to select a new credit card. Identify 4 attributes of a credit card you would consider in making your selection. make a brief description of each attribute and how you would use it to select a credit card. Where would you file a complaint if the issuer of the credit card you select later treats you unfairly?
If you were a wise credit card user, under which of the following conditions would you consider using a credit card to finance an expensive purchase?
a. If I haven't reached my credit limit and I really want to item
b.If I believe my money situation will be better (for example, a better-paying job) in the future than it is now.
c.If I have the money to pay for the item in my bank account and plan to immediately pay the balance in full.
d. If my card has good rewards on it.
Describe each of the different types of credit card rewards programs. Which one do you like best and why? (as young/teen)
Chapter 6 Solutions
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Similar questions
- Should this person open a credit card account? If they do decide to open the new credit card account, what’s one thing this individual should monitor?arrow_forwardAccording to Dave Ramseys seven baby steps plan. What would be the pros and cons of using a credit card for any purchase?arrow_forwardBased on the information above should Billy open a checking account or a savings account? Explain your choice by citing at least 2 benefits of the account type you chose and why those benefits are a good fit for Billy's current situtation.arrow_forward
- Obtaining credit begins with you. After you complete a credit application, the lender decides if you are a good risk. Agencies that collect credit information about individuals are called credit bureaus. For a fee, they provide information about you that lenders need to decide if you are a good risk. The information you provide on your application is checked against the information the credit bureaus have collected about you. Why is your credit application approved or denied? ооооо Good news-your credit application was approved. What are the major factors about you that the lender used to evaluate your creditworthiness? Check all that apply. оооо APPROVED Physical appearance Character Political affiliation Capacity Religion 0000 MEGACREDIT Capital Extra 199 SIE TEL Your friend recently applied for credit and was turned down. Why was your friend probably denied credit? Check all that apply. History of personal bankruptcy FICO score greater than 850 Absence of checking, savings, or other…arrow_forwardSuppose you go to your local bank, intending to buya certificate of deposit with your savings. Explain whyyou would prefer this to offering a loan, at an interestrate that is higher than the rate the bank pays oncertificates of deposit (but lower than the rate the bankcharges for car loans), to the next individual who entersthe bank and applies for a car loanarrow_forwardMany credit cards offer features that are tailored to users' preferences and lifestyles. In the following situations, identify which credit card is a good choice to achieve the user's goal. Special Bank Credit Cards for Different Lifestyles and Preferences Beth has a history of charging a lot on her credit card and doesn't carry a high monthly balance. Beth loves cars and plans to trade in her cars every two years, if not more often, for new ones. Which credit card is the best choice? 0 0 A reward card with an automobile rebate program A secured card Any affinity card Why is that card the best choice? O Beth's low monthly balances will protect her collateral. O The high-charge volume will provide funding for Beth's favorite political organization. The high-charge volume will provide points to use toward supporting Beth's relatively expensive plans. It is January and Eleanor just realized that she forgot to make her annual contribution to her favorite charity. She wants to make sure she…arrow_forward
- Directions: Go to websites of three banks (rural or commercial) and determine the interest rates on their savings or time deposit accounts NAME OF BANKS INTEREST RATES If you are to open a bank account in one of the three banks you listed above, which bank will choose? What are your considerations in choosing this bank? youarrow_forwardis a short term loan against your credit card. Instead of using the credit card to make purchases or pay for a service, you bring it to the bank or ATM and receive cash to be used for whatever purpose you need.arrow_forwardPrepare a service blueprint for each of these banking transactions: Make a savings deposit using a teller. Apply for a home equity loan.arrow_forward
- What are some of the ways to be paid for your invoices? Cash, check, credit card. they are all good. Did you know that QuickBooks lets you accept credit card transactions (with a subscription) and also allows you to accept online payments? Do a little research on the Intuit website to learn more about these two payment methodsarrow_forwardresearch two local banks in your area and compare/contrast one service that they offer. For example you may want to look at the type of checking accounts offered and compare the features between these; What are the interest rates offered? How many withdrawls are you allowed? What fees are associated with the account ? Do they offer a budgeting app, online banking etc? You could do this for savings accounts, buisness accounts, etc. Discuss what features you find most important, and which bank you would choose based on your research.arrow_forwardWhen selecting a financial institution, you should consider: (select all that apply) fees for services. | convenience, such as location of branches and online access to your account. interest rates charged on loans. interest rates earned on your savings.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
