What impact does interest have on the cost of the purchases you make when using credit?
A. Interest can cause the overall cost of your purchases to increase.
B. Interest has no impact because most credit cards do not charge interest.
C. Interest can cause the overall cost of your purchase to decrease.
D. Interest has no impact because it is separate from the actual purchase prices.

The impact does interest have on the cost of the purchases you make when using credit are interest can cause the overall cost of your purchases to increase. Thus, option (a) is correct.

What is interest?

Someone borrows money during a hard time, they are paying additional amount, which is an interest. In monetary terms, interest is a yearly percentage of the loan amount. Different categories, including simple interest, compound interest, and annual interest, are used to categorize the loan.

The interest is low, consumer can easily borrow money. A consumer pay more interest on actual cost. The cost of money is low but add interest percentage is monthly increases. The bank will pay more interest on deposits saving.

Therefore, option (a) is correct.

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