Sometimes It May Be Better to Use Savings Rather Than

question 45

Multiple Choice

Sometimes it may be better to use savings rather than credit to make a purchase.This would be recommended when

• A)the borrower has adequate savings.
• B)interest rates are rising.
• C)interest rates are falling.
• D)the cost of borrowing is greater than the interest earned on the savings.
• E)interest earned on savings is greater than the interest paid on the loan.

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Definitions:

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