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Questions and Answers
What is the main factor that affects the finance charge a purchaser must pay?
What is the main factor that affects the finance charge a purchaser must pay?
- Sales credit
- Amount of credit used (correct)
- Advantages of using credit
- Service credit
Which factor plays a significant role in determining the total finance charges paid by a purchaser?
Which factor plays a significant role in determining the total finance charges paid by a purchaser?
- Length of repayment time
- Disadvantages of using credit
- Annual Percentage Rate (APR) (correct)
- Cash credit
In terms of credit, what is another name for a loan?
In terms of credit, what is another name for a loan?
- Sales credit
- Service credit
- Cash credit (correct)
- Disadvantages of using credit
What does the text imply about the relationship between using credit and interest payments?
What does the text imply about the relationship between using credit and interest payments?
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What advantage does using credit offer in terms of emergency expenses according to the text?
What advantage does using credit offer in terms of emergency expenses according to the text?
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