personal finance 5
1. If you are borrowing money and paying interest, would you prefer an interest rate that compounds annually, quarterly, or daily? Why? (2-4 sentences. 1.0 points)
Annually would cost you less than quarterly. I would go what will cost the cheapest. 2. In your Section_5 folder, navigate to and open the Example_Credit_Report, and then answer the questions below. N/A a. What is the total balance of Jessie Robinson 's real estate account? (0.5 points) N/A b. What is the total balance of Jessie Robinson 's revolving account? (0.5 points) N/A c. Has Jessie Robinson ever applied for bankruptcy? (0.5 points)N/A d. How many creditors have made inquiries about Jessie Robinson 's credit? (0.5 points) N/A e. Do you think Jessie Robinson usually pays bills on time and in full? (1-2 sentences. 1.0 points) N/A f. Do you think Jessie Robinson 's credit score would be great, normal, or poor? Why? (1-3 sentences. 1.0 points) N/A 3.Describe a real or made up but realistic situation in which you would want to use installment credit. (2-4 sentences. 1.0 points)
I would use an installment credit plan for home construction. That way I can take care of it slowly but surely. 4. Describe a real or made up but realistic situation in which you would want to use noninstallment credit. (2-4 sentences. 1.0 points)
I would use an non-installment credit plan when I had all the money up front. For something that would be an hassle to pay over time, like if your were in an unsteady job. 5. Describe a real or made up but realistic situation in which you would want to use revolving credit. (2-4 sentences. 1.0 points)
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. I would not use something that I could end up in debt by not paying attention to something. 6. If you had no credit history yet but wanted to establish one, describe
Annually would cost you less than quarterly. I would go what will cost the cheapest. 2. In your Section_5 folder, navigate to and open the Example_Credit_Report, and then answer the questions below. N/A a. What is the total balance of Jessie Robinson 's real estate account? (0.5 points) N/A b. What is the total balance of Jessie Robinson 's revolving account? (0.5 points) N/A c. Has Jessie Robinson ever applied for bankruptcy? (0.5 points)N/A d. How many creditors have made inquiries about Jessie Robinson 's credit? (0.5 points) N/A e. Do you think Jessie Robinson usually pays bills on time and in full? (1-2 sentences. 1.0 points) N/A f. Do you think Jessie Robinson 's credit score would be great, normal, or poor? Why? (1-3 sentences. 1.0 points) N/A 3.Describe a real or made up but realistic situation in which you would want to use installment credit. (2-4 sentences. 1.0 points)
I would use an installment credit plan for home construction. That way I can take care of it slowly but surely. 4. Describe a real or made up but realistic situation in which you would want to use noninstallment credit. (2-4 sentences. 1.0 points)
I would use an non-installment credit plan when I had all the money up front. For something that would be an hassle to pay over time, like if your were in an unsteady job. 5. Describe a real or made up but realistic situation in which you would want to use revolving credit. (2-4 sentences. 1.0 points)
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. I would not use something that I could end up in debt by not paying attention to something. 6. If you had no credit history yet but wanted to establish one, describe