To Properly Manage Your Money, You Should Use a Credit

question 76

True/False

To properly manage your money, you should use a credit card only if you will have the cash to cover the payment when you receive your credit card statement.

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Definitions:

Compounded Quarterly

Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan on a quarterly basis.

Loan

A sum of money that is borrowed, usually from a financial institution or individual, which is expected to be paid back with interest.

Payments

Transactions made by individuals or entities to fulfill obligations or to purchase goods and services.

Present Value

The immediate valuation of an upcoming sum of money or series of cash transactions, based on a given rate of return.