Business, 15.09.2021 08:40, asher456581

# Meet Gary. He has a great credit score and little credit card debt, with only two cards and owing $2,000 on each with a 10% interest rate. He has been working at his current job for four years with a steady income.
Meet Greg. He has a good credit score and some credit card debt, with five cards owing $2,000 on each. He has reached the maximum limit on two of them, but one is late, regularly costing him additional late fees. All have a 12% interest rate. He has been working at his current job for a year.

Meet Bob. Meet Bob. He has a bad credit score and high credit-card debt, with seven cards, owing $4,000 on each. He has reached the maximum limit on five of them, but all are late each month, costing additional late fees. All have a 15% interest rate. He has had six jobs in the past two years but has been working at his current job for three months.

Part I.

Assign a credit rating number to each person.

Explain why each person has a certain credit rating.

How can each person improve or maintain that credit rating?

Estimate the monthly credit-card payments for each of these people.

How can each person become more responsible?

Write a plan of improvement for each person.

Part II.

Each person wants to buy a home. Why should each person buy and not rent? Find each one a $200,000 house to purchase, using a local real-estate listing. What would the interest rate be for each? What would the monthly mortgage payment be? Why is each a different amount?

Part III.

Summarize the results of your research, and explain why it is financially responsible to make wise choices, using these three people as examples.

Prompt

Write a five hundred word essay answering all the questions about the three scenarios. Be sure to discuss the creditworthiness of each person, as listed below.

the credit card problems and payments

the suggestions for having better credit

the mortgage and house choices for each

the final summary comparing each person's credit story

Answers: 3

Business, 22.06.2019 00:50, tommyaberman

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

Answers: 1

Business, 22.06.2019 02:00, 544620

Answer the following questions using the information below: southwestern college is planning to hold a fund raising banquet at one of the local country clubs. it has two options for the banquet: option one: crestview country club a. fixed rental cost of $1,000 b. $12 per person for food option two: tallgrass country club a. fixed rental cost of $3,000 b. $8.00 per person for food southwestern college has budgeted $1,800 for administrative and marketing expenses. it plans to hire a band which will cost another $800. tickets are expected to be $30 per person. local business supporters will donate any other items required for the event. which option has the lowest breakeven point?

Answers: 1

Business, 22.06.2019 04:00, tomboyswagge2887

The simple interest in a loan of $200 at 10 percent interest per year is

Answers: 2

Business, 22.06.2019 08:20, XAINEE

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

Answers: 2

Meet Gary. He has a great credit score and little credit card debt, with only two cards and owing $2...

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