From the statements below, identify the way or ways in which making only minimum monthly payments on a long-term credit purchase can be a disadvantage. i. it is illegal to make only the minimum payments for more than one year. ii. repeatedly making minimum payments harms your credit score. iii. the total cost is higher if the length of the debt is longer. a. i and ii b. ii only c. i and iii d. ii and iii

Option "D" is the correct answer to the following statement.

Explanation:

In the process of EMI based purchase or loan, higher you pay the higher times you paid.  

In the EMI process, if we make more payment or installment we have to pay more interest, it is a huge disadvantage of EMI based Loan.

Similarly, if we regularly pay a low payment every time this payment method will harm our credit-ability score.

So, Option "D" is the correct answer.

a

explanation:

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

arrowright

anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

arrowright

nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

arrowright