Question

general financial literacy
4501
match the following term to the correct scenario.
armond wants a new computer that normally cost $1500, but its on lighting deal $1000.
he only has $200, but he can get the remaining balance financed through the store at 24%
interest for the next year. he decides to use the offer before the deal expires.
carlos wants new headphones that cost $400. he decides to work an extra 5 hours each
week and put the extra money toward purchasing them when he has enough.
stormy wants to buy a new phone. she decides to look at local stores and research pricing
online before making her purchase.
delayed gratification comparison shopping impulse b

Explanation:

1. For Armond: He uses a financing offer to buy the computer before the deal expires, showing a lack of waiting and acting on impulse (matches "Impulse buying" as he doesn't wait to save fully and takes the deal quickly).
2. For Carlos: He works extra hours to save money over time to buy headphones, delaying the purchase to have enough money (matches "Delayed gratification" as he defers immediate purchase for a planned saving approach).
3. For Stormy: She looks at local stores and researches online pricing to find the best deal, which is comparing prices (matches "Comparison shopping" as she is evaluating different options for price).

Answer:

• Armond's scenario: Impulse buying (He acts on the deal quickly without waiting to save more, using financing to buy immediately before the deal expires).
• Carlos's scenario: Delayed gratification (He delays buying headphones to work extra and save money over time to afford them).
• Stormy's scenario: Comparison shopping (She researches local stores and online pricing to compare and get the best deal for the new phone).