Case 3 Debt Consolidation as a Debt Reduction Strategy (a) Is Justins enthusiasm over the idea of
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Case 3 Debt Consolidation as a Debt Reduction Strategy
(a) Is Justin’s enthusiasm over the idea of a debtconsolidation loan justifi ed? Why or why not?
(b) Why can the bank off er such a “good deal” to Justin?
(c) What compromise would Justin make to remit payments of only $206 as compared with $460?
(d) If you assume that the debt-consolidation loan will cost more in total interest, what would be a justifi cation for this added cost?
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