Problem
You have a friend who runs up a balance on his credit card by buying new furniture to replace the furniture he has. The interest rate on the balance is 15 percent per month. The furniture store offers a layaway plan with monthly payments equivalent to an interest rate of 10 percent per month. Explain to your friend how he could manage his finances more sensibly.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.