Question

According to this image :

1- What is the age range of the generation with the highest amount of household debt?

2-Which is the only generation to decrease its average debt from 2019 to 2020?


3-Compare the rate at which Gen Z’s debt increased from 2019 to 2020 compared to other generations.
With an increase of 67.2%, Gen Z’s debt increased at a much higher rate than other generations.


4-Calculate how long it would take for Gen Z’s average debt ($16,000) to reach Gen X’s level of average debt ($140,000) if it continued to increase at its current rate (67.2% per year).

5-Develop a logical argument why Gen Z’s debt is rising at such a high rate when the Silent Generation’s debt is decreasing.

I have to turn this worksheet today, So please ANYONE help me out please ASAP..

Answer 1

1. Gen X 41-56years

2. Silent Gen reduced debt by 4.6%

3.Baby boomers increased by 0.3% from 2019 to 2020, they had the least increase in debt

Gen X followed with 3.5% increase from 2019 to 2020 while Millenials had 11.5% increase in debt between 2019 and 2022. Even though Gen Z debt increased by 67.2%, they still have the lowest debt overall into two years.

4.Gen Z average debt $16,000

Gen X average debt $ 140,000

In 5years, it will meet up with Gen Xs level of debt

5. The silent Gen are the elderly, mostly retired and no longer taking new loans while Gen Z is the younger generating, newly exploring the world, teenagers and students, young school leavers and new work force taking loans at the slightest offer. The silent age are no longer active, they are most been taken care of and won't be taking loan facilities for any purpose. Student loan, technology etc is available and most suitable for the age range of Gen Z, hence the difference in the loan dimension.