HURRY FAST 100 POINTS AND BRAINLIST FOR THE FIRST ANSWER What is the cost of credit, and what impact does it have
on consumer spending?

Explanation:

What is the cost of credit?

Credit costs an additional amount of money. The borrower must repay the amount of the loan–the principal–plus interest to the lender. Generally, repayments are made on an installment basis over the life of the loan. In some instances, one payment of principal and interest is made at the maturity of the loan.

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Consumer spending is what households buy to fulfill everyday needs. This private consumption includes both goods and services.1  Every one of us is a consumer. The things we buy every day create the demand that keeps companies profitable and hiring new workers.2

Almost two-thirds of consumer spending is on services, like real estate and health care. Other services include financial services, such as banking, investments, and insurance. Cable and internet services also count, and even services from non-profits.

The remaining one-third of our personal consumption expenditure is on goods. These include so-called durable goods, such as washing machines, automobiles, and furniture. More frequently, we buy non-durable goods, such as gasoline, groceries, and clothing.3  4

Explanation:

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