Before You Begin Examine the Prompt
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Many adults make poor choices about credit and financing. In order to understand smart choices and the results of poor choices, you will complete a research project comparing three people and their circumstances. You will identify, calculate, and project credit-card debt, payments, and mortgage rates. You will write an essay comparing the three people, their particular circumstances, and your projected advice.

Directions
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- Meet Gary. He has a great credit score and little credit card debt, with only two cards and owing $2,000 on each with a 10% interest rate. He has been working at his current job for four years with a steady income.

- Meet Greg. He has a good credit score and some credit card debt, with five cards owing $2,000 on each. He has reached the maximum limit on two of them, but one is late, regularly costing him additional late fees. All have a 12% interest rate. He has been working at his current job for a year.

- Meet Bob. Meet Bob. He has a bad credit score and high credit-card debt, with seven cards, owing $4,000 on each. He has reached the maximum limit on five of them, but all are late each month, costing additional late fees. All have a 15% interest rate. He has had six jobs in the past two years but has been working at his current job for three months.


Part I.
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- Assign a credit rating number to each person.
- Explain why each person has a certain credit rating.
- How can each person improve or maintain that credit rating?
- Estimate the monthly credit-card payments for each of these people.
- How can each person become more responsible?
- Write a plan of improvement for each person.


Part II.
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Each person wants to buy a home. Why should each person buy and not rent? Find each one a $200,000 house to purchase, using a local real-estate listing. What would the interest rate be for each? What would the monthly mortgage payment be? Why is each a different amount?


Part III.
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Summarize the results of your research, and explain why it is financially responsible to make wise choices, using these three people as examples.

Prompt
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Write an essay answering all the questions about the three scenarios. Be sure to discuss the creditworthiness of each person, as listed below.

- the credit card problems and payments
- the suggestions for having better credit
- the mortgage and house choices for each
- the final summary comparing each person's credit story

It says 500 words but my teacher doesn't care. Any help would be appreciated!!!