Economics Homework Help. The True Cost of Credit Card Use Peer Discussion and Response
I?m working on a finance discussion question and need a sample draft to help me study.
“Economics Homework Help”,
“text”: “Economics Homework Help. The True Cost of Credit Card Use Peer Discussion and Response
I’m working on a finance discussion question and need a sample draft to help me study. Initial Post:Consider the following scenario:You spend an extra $50 a month using a credit card for the first year after graduation to make ends meet.The interest rate charged by the credit card company is 18%.The minimum payment you are required to send each month is $20.Now consider the real cost of that $50 dollars a month by the end of that first year provided to you in the exercise.How might the continued use of a credit card to fund an extra $50 of spending per month affect your long-term financial health?Describe two ways you could avoid the long-term consequences of spending more than you have on a regular basis.Please be sure to validate your opinions and ideas with citations and references in APA format and in-text citations.–Peer response (attached document):Consider your peer’s thoughts on what to remove or reduce to make the same monthly payment? In what ways does your response differ from theirs?Share with your peer why you feel the car loan they would have to repay might or might not be worth their proposed sacrifices.Suggest an additional option they could consider to avoid taking on that monthly car payment. Economics Homework Help”,
“url”: “/economics-homework-help-7492/”
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Initial Post:
Consider the following scenario:
You spend an extra $50 a month using a credit card for the first year after graduation to make ends meet.
The interest rate charged by the credit card company is 18%.
The minimum payment you are required to send each month is $20.
Now consider the real cost of that $50 dollars a month by the end of that first year provided to you in the exercise.
How might the continued use of a credit card to fund an extra $50 of spending per month affect your long-term financial health?
Describe two ways you could avoid the long-term consequences of spending more than you have on a regular basis.
Please be sure to validate your opinions and ideas with citations and references in APA format and in-text citations.
?
?
Peer response (attached document):
Consider your peer?s thoughts on what to remove or reduce to make the same monthly payment? In what ways does your response differ from theirs?
Share with your peer why you feel the car loan they would have to repay might or might not be worth their proposed sacrifices.
Suggest an additional option they could consider to avoid taking on that monthly car payment.
Economics Homework Help
