unit 1 Flashcards
1
Q
Interest rate
A
The amount a lender charges a borrower and is a percentage of the amount loaned
2
Q
3 pros for credit cards
A
Convenience and easy access
Buy now pay later
Rewards such as cash back, miles or points
3
Q
3 cons for credit cards
A
high interest rates
Temptation in overspending
Risk of accumulating high debt.
