Personal Financing. Describe some advantages and disadvantages of using personal

Question

Personal Financing. Describe some advantages and disadvantages of using personal financing to achieve your financial goals. What is the personal financing trade-off? Personal financing allows you to make purchases without paying: (Select the best answer below.) O A. full price. OB. credit fees. OC. sales tax. O D. the entire amount in cash. An example of the main trade-off in personal financing is: (Select the best answer below.) O A, the shorter the term of a personal loan, the higher the overall interest paid. O B. borrowing funds will now result in lower interest payments in the future. Oc. borrowing funds will now result in higher interest payments in the future. OD. borrowing funds frees up cash now, but lowers available cash in the future. Click to select your answer.

Explanation / Answer

Personal financing allows you to make purchases without paying the entire amount is cash. Some is given in cash and the remaining is financed by the bank or other financial institituiion

Main tradeoff is borrowing funds frees up cash now but lowers available cash in the future

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