Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000. If you have a good credit rating, how

You have a credit card that has a balance of $3,589.90 and a credit limit of $5,000. If you have a good credit rating, how much must you pay at the end of the month to get the balance to the acceptable debt ratio percentage?

Secured Unsecured
Credit APR (%) APR (%)
Excellent 4.75 5.50
Good 5.00 5.90
Average 5.85 6.75
Fair 6.40 7.25
Poor 7.50 8.40

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Passive Income The Passive Income Millionaire

Authors: Alexus Arellano

1st Edition

9814950882, 978-9814950886

More Books

Students also viewed these Finance questions

Question

What is the difference between a price level and a price index?

Answered: 1 week ago