Question
A)John needs a new dishwasher and buys it from a store because they had a financing special that offered no interest charges
12 months. What will the store do if he doesn’t pay the entire amount off in that time?(1 point)
It will begin assessing interest on whatever remains to be paid at that point.
It will repossess the dishwasher.
It will cancel the service contract on the dishwasher.
It will charge him all the interest that would have accrued over the year.
2/7/25, 7:48 PM Personal Finance: Benefits of Owning v. Renting
Question 5
A)José wants to buy a new large screen TV. The electronics store has a special on the model he wants and offers same-day de
if he uses his store rewards card. An online retailer is offering the same model, and if he uses their credit card, he can get 10%
Why might José have decided to buy from the electronics store when the same TV is available for less money from the online
retailer?(1 point)
The one from the online retailer was of higher quality.
José likes paying extra money.
He was worried that the TV would get lost in the mail.
He wants to get the rewards, and he did not want to open another credi
12 months. What will the store do if he doesn’t pay the entire amount off in that time?(1 point)
It will begin assessing interest on whatever remains to be paid at that point.
It will repossess the dishwasher.
It will cancel the service contract on the dishwasher.
It will charge him all the interest that would have accrued over the year.
2/7/25, 7:48 PM Personal Finance: Benefits of Owning v. Renting
Question 5
A)José wants to buy a new large screen TV. The electronics store has a special on the model he wants and offers same-day de
if he uses his store rewards card. An online retailer is offering the same model, and if he uses their credit card, he can get 10%
Why might José have decided to buy from the electronics store when the same TV is available for less money from the online
retailer?(1 point)
The one from the online retailer was of higher quality.
José likes paying extra money.
He was worried that the TV would get lost in the mail.
He wants to get the rewards, and he did not want to open another credi
Answers
GPT-4o mini
**Question 1:**
If John does not pay the entire amount off in the 12-month no-interest financing period, the store will likely **begin assessing interest on whatever remains to be paid at that point.** This is a common practice for no-interest financing offers.
**Question 2:**
José might have decided to buy from the electronics store instead of the online retailer for several reasons, but based on the information provided, the most plausible reason is **he was worried that the TV would get lost in the mail.** Additionally, he may also have wanted to earn the rewards from the electronics store and prefer to avoid opening another credit card account.
If John does not pay the entire amount off in the 12-month no-interest financing period, the store will likely **begin assessing interest on whatever remains to be paid at that point.** This is a common practice for no-interest financing offers.
**Question 2:**
José might have decided to buy from the electronics store instead of the online retailer for several reasons, but based on the information provided, the most plausible reason is **he was worried that the TV would get lost in the mail.** Additionally, he may also have wanted to earn the rewards from the electronics store and prefer to avoid opening another credit card account.