Future Smart Module 3 Ways To Pay Exam Questions (15 Terms) With Verified Definitions Updated 2024

a. Pay the full balance each month {Ans: What is the best strategy for avoiding credit card interest? a. Pay the full balance each month b. Skip payments c. Pay the minimum balance d. Make payments online}b. You have to pay interest {Ans: What is the problem with paying only your minimum credit card balance each month? a. It lowers your credit score b. You have to pay interest c. The bank will cancel your credit card d. All of the above}a. Salary {Ans: A ________________ is usually paid on a biweekly or monthly basis for professional employment. a. Salary b. Stipend c. Wage d. Benefit}a. Federal Income Tax {Ans: ___________________ is withheld from a paycheck and is used to fund government services such as health care, national defense, and scientific programs. a. Federal Income Tax b. Medicare c. Social Security d. State Income Tax}c. The longer you use credit responsibly, the higher your credit score. {Ans: Which of the following statements is TRUE: a. Applying for several lines of credit in a short period of time can help boost a person's credit score. b. Paying off a credit card balance in full can have