Why is it important to know the interest rate on your credit card? the higher the interest rate, the more money you will be paying back the higher the interest rate, the less money you will be paying back the lower the interest rate, the more credit you can open the lower the interest rate, the more money you can spend question 2(multiple choice worth 5 points) (04.03 lc) jackson has a credit card with a 15% interest rate. his dad has a credit card with a 5% interest rate. if they both charge $1,000, how much more will jackson end up paying? $500 $250 $100 $125 question 3(multiple choice worth 5 points) (04.03 mc) alyssa's monthly mortgage costs are lower than those of her neighbor, steven. steven doesn't understand how this is possible because alyssa paid more money for her house. what could be the reason for this difference in costs? alyssa has a higher-paying job than steven steven has lived in his house longer than alyssa alyssa got a better interest rate on her loan steven has a lot of medical bills to pay back question 4(multiple choice worth 5 points) (04.03 lc) when should you open a credit card account? when you want to take an exotic vacation when you have a plan for paying it back when you need new clothes for an event when you want to loan money to a friend