personal finance 5

1057 WordsDec 22, 20145 Pages
1. If you are borrowing money and paying interest, would you prefer an interest rate that compounds annually, quarterly, or daily? Why? (2-4 sentences. 1.0 points) Annually would cost you less than quarterly. I would go what will cost the cheapest. 2. In your Section_5 folder, navigate to and open the Example_Credit_Report, and then answer the questions below. N/A a. What is the total balance of Jessie Robinson 's real estate account? (0.5 points) N/A b. What is the total balance of Jessie Robinson 's revolving account? (0.5 points) N/A c. Has Jessie Robinson ever applied for bankruptcy? (0.5 points)N/A d. How many creditors have made inquiries about Jessie Robinson 's credit? (0.5 points) N/A e. Do you think…show more content…
Why? (3-6 sentences. 2.0 points) A Regions Personal Credit Card is a revolving line of credit that allows you to borrow funds to pay for goods and services you purchase, to get a cash advance, or to pay balances you owe to other creditors. You may use your Personal Credit Card for: • Purchases • Balance transfers • Cash advances • Overdraft protection, up to the amount available for cash advances under your credit limit, when linked to your Regions checking account • A monthly statement will be sent with balance and payment information. • You must pay at least the minimum payment by the payment due date to avoid late fees, to avoid the loss of any promotional rates and to keep your account in good standing. • If you send a payment to the payment address on the statement and it is received by 5 p.m. local time, it will be credited to the account as of the day it is received, even if it is not posted on that date 12. Describe a real or made up but realistic example of a time when you might apply for a loan. (2-4 sentences. 1.0 points) When I apply for college. If I do not get approved for enough college scholarships, I will need to pay for college some how. 13. In your Section_5 folder, navigate to and open the Example_FAFSA. Complete the steps below to save a copy of the file with your initials in your Section_5 folder. TIP: The FAFSA is the Free Application for Federal Student Aid. This application is used by many students to get federal funding for

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