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A TV was on sale for $350.00 but Emma, Byron, Kevin and Maria all ended up paying different amounts by using their credit card: Emma
A TV was on sale for $350.00 but Emma, Byron, Kevin and Maria all ended up paying different amounts by using their credit card: Emma paid $714.86 Byron paid $514.24 Kevin paid $360.28 Maria paid $350.00 . Each person bought the TV with a credit card. Each person used their credit card in a different way. Now it's up to you to figure out who did what and when. Directions: Read the Case File and decide which person fits the description. Case File #1 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a credit card with a 12% APR; Paid much more than the minimum payment towards the credit card balance each month, Didn't use credit card again until the TV was paid off; Carefully monitored credit card statements, sent in payments on time, and did not use the credit card for cash advances. C Case File #2 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a brand new credit card with a 0% introductory APR; Began using the credit card for cash advances at the ATM, which immediately raised the APR to 24%; Forgot to make the minimum payment the first month after the purchase, and regularly sent in payments late during the following months (and years); Used the credit card whenever cash was low, and didn't carefully monitor credit card statements. Case File #3 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a credit card with a 17% APR; Saved $350 cash in a savings account before purchasing the digital music player; At the end of the month, paid off the $350 balance on the credit card in full; Usually pays cash, and uses credit cards only for large purchases or emergencies. Case File #4 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a credit card with a 19% APR; Consistently paid the exact minimum payment of $10 a month toward their credit card balance; Never sent in payments late or missed a payment to the credit card company; Regularly used the credit card for other purchases, both large and small. A TV was on sale for $350.00 but Emma, Byron, Kevin and Maria all ended up paying different amounts by using their credit card: Emma paid $714.86 Byron paid $514.24 Kevin paid $360.28 Maria paid $350.00 . Each person bought the TV with a credit card. Each person used their credit card in a different way. Now it's up to you to figure out who did what and when. Directions: Read the Case File and decide which person fits the description. Case File #1 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a credit card with a 12% APR; Paid much more than the minimum payment towards the credit card balance each month, Didn't use credit card again until the TV was paid off; Carefully monitored credit card statements, sent in payments on time, and did not use the credit card for cash advances. C Case File #2 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a brand new credit card with a 0% introductory APR; Began using the credit card for cash advances at the ATM, which immediately raised the APR to 24%; Forgot to make the minimum payment the first month after the purchase, and regularly sent in payments late during the following months (and years); Used the credit card whenever cash was low, and didn't carefully monitor credit card statements. Case File #3 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a credit card with a 17% APR; Saved $350 cash in a savings account before purchasing the digital music player; At the end of the month, paid off the $350 balance on the credit card in full; Usually pays cash, and uses credit cards only for large purchases or emergencies. Case File #4 Who is this? Facts of this case. One person did all of the following: Bought the $350 TV using a credit card with a 19% APR; Consistently paid the exact minimum payment of $10 a month toward their credit card balance; Never sent in payments late or missed a payment to the credit card company; Regularly used the credit card for other purchases, both large and small
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