Question

Question

Which accurately describes the purpose of a credit plan?(1 point)
Responses

to project how much money will accumulate in one’s savings account over time
to project how much money will accumulate in one’s savings account over time

to track different monthly expenses and ensure that they stay within one’s income
to track different monthly expenses and ensure that they stay within one’s income

to understand how, and how much, one will pay for an item that cannot be bought immediately with cash
to understand how, and how much, one will pay for an item that cannot be bought immediately with cash

to ensure that anything bought with credit can be paid off within two years at most

Answer 1

The option that accurately describes the purpose of a credit plan is:

to understand how, and how much, one will pay for an item that cannot be bought immediately with cash.