Question

Why might it be better to save up some money and buy something later than to buy it on credit now?
You may get protection for cash purchases that are lost, damaged, or stolen.
Buying anything on credit will damage your credit rating.
Paying for things on credit will hurt the economy, by taking money out of circulation.
Paying off credit debt can extend many years, long after the item purchased was useful.

Answer 1

The correct answer is D "Paying off credit debt can extend many years, long after the item purchased was useful."

Answer 2

It might be better to save up and buy something later than to taking up on credit now is that the item acquired was useful which can extend the credit period by so many years.

Option D is correct.

What is a credit?

Credit is a kind of loan where money is paid back in installments and in current time paid by the bank itself.

If an individual acquires some product on credit, then it might increase the period of credit if not paid on time along with interest. If it saves up the money in the current period and acquires the product later, then it is more beneficial for him/her to use the money with no interest.

Therefore, the explanation provided in option D is correct.

Learn more about the credit in the related link:

https://brainly.com/question/1475993

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