Personal Finance 1st Edition by Jack R. Kapoor

Exercise 13

Comparing Reasons for Using Credit. Prepare a list of similarities and differences in the reasons the following individuals might have for using credit. (Obj. 2)

a.     A teenager.

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b.     A young adult.

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c.      A growing family of four.

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d.     A retired couple.

Step 1 of 4

a. A teenager may wish to use credit to buy a used car to go to college/work, to purchase a musical instrument, or simply to take a small loan to establish credit.