Question

Frank has four different credit cards, the balances and interest information of which are outlined in the table below. As Frank was developing a debt payment plan, Charles suggested that he pay off the credit cards beginning with the highest balance, working his way down. If Frank chooses to follow Charle’s advice, in what order should Frank plan on paying off his credit cards?

Credit Card
Balance
APR
A
$2,380
19%
B
$4,500
15%
C
$1,580
17.50%
D
$900
21%
a.
D, A, C, B
b.
B, A, C, D
c.
C, B, A, D
d.
A, C, D, B

Answer 1

Answer:

 a.  D, A, C, B

Step-by-step explanation:

You want to put the interest rate numbers into decreasing order.

Those numbers are ...

 19 (A), 15 (B), 17.5 (C), 21 (D)

In decreasing order, they are 21, 19, 17.5, 15, so D, A, C, B.

Answer 2

Based on the given balance on each credit card, the order from highest to lowest is as follows; B, A, C, D.

What is the balance on each of the credit cards?

A credit card balance is the amount of charges that are owed a credit card company based on purchases made using the credit card.

The balance on each of the cards is shown as follows:

• Card A: $2,380
• Card B: $4,500
• Card C: $1,580
• Card D: $900

From the given balance on each card, the order from highest to lowest is as follows; B, A, C, D.

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