Which of the following options represents the advantage of purchasing with cash instead of a credit card?
The cash payment does not include interest fees.
If you don’t have enough money at the time you can still make the purchase.
You will worry less if the cash is stolen because the bank will give you your stolen cashback.
Cash can be used to make an electronic payment.
help me please
The advantage of purchasing with cash instead of a credit card is that the cash payment does not include interest fees. Here's how you can determine this:
1. Understand the concept of interest fees: When you use a credit card to make a purchase, you are essentially borrowing money from the card issuer. If you don't pay off the full balance within the grace period, the remaining balance accrues interest, which adds to the overall cost of your purchase.
2. Compare cash payment to credit card payment: Cash payment means you are using physical currency to make a purchase. In this case, you are using your own money directly, and there are no interest fees associated with spending cash. On the other hand, when you use a credit card for a purchase, any remaining balance that you carry forward past the grace period will incur interest fees.
3. Consider the options: Out of the given options, "The cash payment does not include interest fees" is the option that represents the advantage of purchasing with cash.
Remember that while cash has advantages like avoiding interest fees, credit cards can offer benefits such as convenience, rewards, and building credit history. It's important to consider your personal financial situation and needs when deciding between cash and credit card payments.