QUESTION $7$

If you are using the snowball method of debt repayment and you have the following $3$ debts:

$$2,000$ Credit card debt at $24\%$

$$1,000$ Overdraft protection line of credit at $18\%$

$$10,000$ Student Loan at $8\%$

Which debt would you apply extra cash to repay first?

A$.$ $$10,000$ Student Loan at $8\%$

B$.$ $$1,000$ Overdraft protection line of credit at $18\%$

C$.$ $$2,000$ Credit card debt at $24\%$

D$.$ You would contribute excess cash to each loan equally