What steps are used to calculate the average daily balance. Many credit cards charge 18%-24% annual interest. Do you think this is fair? Do you think this is a justifiable rate? Should rates be lower for certain age groups or individuals or for different types of credit cards or for different income levels and if so why or why not? Defend your answer. ( minimal 2 paragraphs - maximum 3 paragraphs ) (no plagiarism)

Explain the difference between future value and present value. Why is future value a good thing to calculate? ( minimal 1 paragraph - maximum 2 paragraphs ) (no plagiarism)

Explain the difference between simple interest and compound interest ( minimal 1 paragraph - maximum 2 paragraphs ) (no plagiarism)