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Tony spends much of each day in his car commuting from home to school and work. His parents gave him a credit card to be
Tony spends much of each day in his car commuting from home to school and work. His parents gave him a credit card to be used only for emergencies. Recently, the radio in his car went on the blink. He enjoys listening to music on his long drives. He went to the repair shop and was told it would cost $75.00 to diagnose the problem. To fix the problem, he would have to pay additional costs for labor and parts. The repair person told Tony that his shop had a special sale on a portable CD player for $150.00. 1) What decision is he trying to make? 2) What are his alternatives 3) What is the benefit of using credit? 4) What is the cost of using credit? 5) What would you advise him to do? Explain you
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