Which of the following decisions is not financially sound?
A) Defer your student loan payments with no interest accruing
B) Defer your student loan payments if the interest rate is 7% per annum
C) Take a 60 month zero interest rate car loan
D) Prioritize paying off the highest interest rate loans versus lower rate loans

Question

Quizplus · Accepted Answer

Deferring student loan payments when interest is accruing is not financially sound because interest will continue to add up and increase the overall amount owed.

Answer: A, C, D
 Deferring student loan payments with no interest accruing, taking a 60 month zero interest rate car loan, and prioritizing paying off higher interest rate loans are all financially sound decisions. These options can help save money in the long run and prevent unnecessary debt.

Which of the Following Decisions Is Not Financially Sound