Read the following scenario
o Paul has gotten into credit card trouble. He has a balance of $9500 and just lost his job. His credit card company charges interest of APR= 21% compounded daily. Suppose the credit card company allows him to suspend his payments until he finds a new job but continues to charge interest. Additionally suppose that it has taken him 1 year to find a new job.
o
Research online ways to avoid credit card trouble
Write a paper that reports on your research, meets the following specifications, and answers the following questions
o The paper is written as a response to help Paul understand the benefits and pitfalls of owning a credit card.
o Counsels Paul about how much he will owe at the end of the year while searching for his new job
o Gives Paul at least three benefits of having a credit card
o Gives Paul at least 5 guidelines to avoid credit card trouble when he finds his new job
