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What happens finance overspending by running up credit-card

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Problem 1: What happens if, during a given year, you spend more money than you take in? What happens if you finance your overspending by running up your credit-card balance to some outrageous limit? Would you have trouble borrowing in the future? Would you have to pay higher interest rates? How would you get out of debt?

Reference no: EM132627767

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