Final answer:
The answer to the question is d) All of these answers are correct. High-interest rates, accumulation of interest over time, and potential debt accumulation are all disadvantages of credit card debt.
Step-by-step explanation:
The answer to the question is d) All of these answers are correct.
High-interest rates, accumulation of interest over time, and potential debt accumulation are all disadvantages of credit card debt.
When you carry a credit card balance from month to month, you are charged interest on the amount of money you owe, which can accumulate over time and make the debt more difficult to pay off. Credit card interest rates can be high, typically ranging from 12% to 18% per year, making it more expensive to maintain a balance.
Additionally, credit card debt has the potential to accumulate quickly if you consistently spend more than you can afford to repay.