Question

Sheena has a $4,000 balance on her credit card statement. This month, she can afford to pay $2,000 of her balance. When should she make her payment (earlier or later in her billing cycle) in order to keep her finance charge low?

Answer 1

Answer:

This does not matter

Step-by-step explanation:

This does not matter and does not affect her finance charge. What does affect this charge is whether or not she pays what is owed on time. Meaning that she must pay everything that she owes between the end of the billing cycle and the day that the payment is due. In this scenario, it seems that she can only afford to pay half of what she actually owes, therefore regardless of when she pays this amount her finance charge will increase until she pays the entire debt.