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Lakesha does not have enough in her bank account to use a debit card for the purchase of a bike she needs to get to work. She has to decide whether to use a credit card or to finance the bike through the store. Which questions should Lakesha answer before making her decision? Check all that apply.




Will this cause my bank account to have a negative balance?


What is the difference in the finance charges for the two choices?


How much will the bike cost when adding the finance charges to the price?


Should I talk to a consumer credit counseling service?


Can I pay at least the minimum payment each month?


Will I be able to make the payments and avoid late fees?

Respuesta :

PBCHEM

ANSWER: The questions which Lakesha should answer before going for any decision would be:

Answer 1) A. What is the difference in the finance charges for the two choices?

EXPLANATION: Lakesha should consider this question because it is important to see which option is costlier between the two. She needs to save money and will only go for the option which is less costlier. Mostly using debit card for purchasing the bike should be the less costlier option between the two.

Answer 2) B. How much will the bike cost when adding the finance charges to the price?

EXPLANATION: This is important for Lakesha to know as this would increase the cost of the bike by a considerable amount. Finance always adds up to the cost of the item by the interest charged on it. In this case also, the cost of the bike adds up which may be a burden on Lakesha.

Answer 3) C. Can I pay at least the minimum payment each month?

EXPLANATION: Lakesha doesn't have any saving in her bacnk account. So, if she is opting for a finance option, her installment will start from the next month. It is important for Lakesha to know the answer of this question as she may not saving enough money to pay the immediate installment due at any month. In that case, she should be able to pay the minimum amount.

Answer 4) D. Will I be able the make the payments and avoid late fees?

EXPLANATION: Lakesha should know this answer so that she never has to pay any late fee. If she fails to pay an installment for any month, she should be given an option to pay the amount within a time period and not get charged by the late fees. This could end up becoming more burden for her as it would add up to the cost of her bike.

marvineetesh3

Lakesha should analyze the following questions before making her decision:

1. What is the difference in the finance charges for the two choices?

2. How much will the bike cost when adding the finance charges to the price?

3. Can I pay at least the minimum payment each month?

4. Will I be able to make the payments and avoid late fees?

What is the difference in the finance charges for the two choices?

She should evaluate this question because it is essential to comprehend from both the options that which option is expensive. She wants to save money, and she will only go for the option which is less expensive.

Generally, using a debit card for purchasing the bike should be the less expensive than the another option.

How much will the bike cost when adding the finance charges to the price?

This is also essential for her to cognise as this would increase the cost of the bike by a large amount. Finance always adds up to the cost of the item by the interest charged on it.

In this case also, the cost of the bike increases up, which may be a headache on her.

Can I pay at least the minimum payment each month?

She doesn't have any saving in her bank account. So, her installment will start from the next month, if she is choosing for a finance option. It is essential for her to cognise the answer of this question, as she may not be saving enough money to pay the immediate installment due at any month.

In that case, she should be capable to pay the amount which is minimum.

Will I be able to make the payments and avoid late fees?

She should cognise this answer so that she never has to pay any late fee. If she is unable to pay an installment for any month, she should be given an option to pay the amount within a time period and not get hastened by the late fees.

This could end up becoming more headache for her as it would add up to the cost of her bike.

Therefore, the options B, C, D, E are the correct.

Learn more about finance charges, refer:

https://brainly.com/question/298229

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