1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kaheart [24]
3 years ago
9

Consumers who pay more than the minimum payment on credit cards

Social Studies
2 answers:
alexira [117]3 years ago
6 0

The correct option is <u>(a) pay less interest in the long run. </u>

Further explanation:

When an individual makes the minimum payment on his credit card then he gives himself temporary relief. It’s when an individual commit to pay more in interest charges. The trade-off might get an individual into serious trouble related to money over time, it happens especially when an individual’s card charges a high rate of interest.

If a person pays the minimum towards his balance each month, then he can expect the following things to happen:

  1. Paying down one’s debt takes a much longer time.
  2. An individual will gain bigger interest charges.
  3. An individual credit score can take a hit.

When an individual starts using a credit card, the minimum payment is one of the important and first things an individual should understand. When an individual pays more than the minimum payment, a person’s credit card balance goes down.

Learn more:

1. What was the impact of political and legal ideas contained in Justinian's code?

<u>brainly.com/question/5344838 </u>

2. Why did Gorbachev choose the United Nations as his forum for this speech?

<u>brainly.com/question/4056361 </u>

<u> </u>

Answer details:

Grade: Middle School

Subject: Social studies

Topic: Credit Card Minimum Payment

Keywords: interest, minimum payment, trade-off, debt, credit card, rate of interest, money

Viktor [21]3 years ago
5 0

Answer:

The correct answer is "pay less interest in the long run".

Explanation:

Regarding payment of credit cards debt, most of the credit cards have an option to make a minimum payment which is typically a fixed amount. Paying only the minimum is a tempting option, however, it results in paying more in finance charges. Paying more than the minimum payment is better, because it results in pay less interest in the long run.

You might be interested in
How has the cabinet evolved over time?
padilas [110]

Many people help the president manage the business of the executive branch. His most important advisers are the members of the Cabinet. Over the years, the size of the Cabinet has changed. George Washington's first Cabinet had just four secretaries. There was one each for the departments of (1) Foreign Affairs (now known as the Department of State), (2) the Treasury, (3) War (now known as the Department of Defense), and (4) an Attorney General.

The modern Cabinet has fifteen heads of departments, as well as a number of other important officials. Secretaries of Agriculture, Labor, Health and Human Services, Housing and Urban Development, Transportation, Energy, Education, and Homeland Security are among some of the other Cabinet members. 

7 0
3 years ago
Read 2 more answers
Explain the importance of filial piety to the chinese. how does the concept of filial piety relate to the confucian view of how
Tpy6a [65]
According to Confucianism, the society will function well if everyone knows their assigned place and does not question it. 

In a Confucian society, people are not equal, instead, there is a hierarchy:

<span>ruler >subject,
father > son, (we can assume that  they mean parents> children)
husband > wife,
elder > younger,

friend = friend - here people are equal with respect to each other. 
</span>
So we see that filial piety is a way of ensuring that this relationship: father > son functions without a problem, and the Confucians believed that this is necessary for the proper function of the society. <span />
5 0
3 years ago
Which of the following is the best definition of globalization?
Natasha_Volkova [10]

Answer:the process of the world shrinking and becoming more connected

Explanation:

8 0
3 years ago
With the federal funds rate near zero and the economy still​ struggling, the Fed began buying​ 10-year Treasury notes and certai
grigory [225]

Answer:

A

Explanation:

Quantitative easing is a process whereby a government through its central bank buy up government securities and other securities in order to increase money supply to its economy while encouraging lending and investments. The process work in such a way whereby its central bank drops the interest rates of their country to zero.

This increases the supply of money as well as decreasing the yield of each of those asset categories.

8 0
3 years ago
Please explain what a Giffen good is and how it violates laws of demand?
Anna35 [415]
A giffen good is a good whose demand rises when the price rises, which is opposite to the laws of demand because the laws of demand state that a rise in price will result in a reduction of demand. An example can be a staple food like bread. If the price of bread rises, people will buy it more because they'll have to cut back on other more expensive things, of course this applies in theory.
7 0
3 years ago
Other questions:
  • How does the connotation of the word perilous affect the tone of the paragraph?
    13·2 answers
  • In the 500s CE, the Holy Land was controlled by the
    11·2 answers
  • What are 3 examples of cooperative federalism at work?
    5·1 answer
  • Nestor is proud to belong to the elite cross-country ski club at his college, but he is glad to not be a member of the downhill
    9·1 answer
  • Based on the results, who won the election? (EV=Electoral Votes, PV=Popular Votes)Republican: EV: 51.8% PV: 46.9%Democratic: EV:
    13·1 answer
  • What were some of the reasons that inspired Europeans to take part in the crusades​
    8·2 answers
  • Cesar Beccaria believed in the concept of _____, the idea that people want to achieve pleasure and avoid pain.
    5·1 answer
  • The case of nadean cool, who was purported to have more than a hundred different personalities, is an example of the critical th
    8·1 answer
  • In a democracy,people agree to abide by rules that the minority's of people want true or false
    12·1 answer
  • Read the passage.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!