anonymous
  • anonymous
Can someone help me with this problem please?!!!!! You have four credit cards. Each has a balance of $450.00, but their credit limits are $800.00, $1,200.00, $1,300.00, and $1,500.00. Paying off and closing which card would decrease your debt ratio? (1 point)
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
chestercat
  • chestercat
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
@amistre64 can you help me with this problem please? I dont want the answer, just need help with it.
amistre64
  • amistre64
what defines a debt ratio? if memory serves it is balance/debt but i might have that upside down
amistre64
  • amistre64
debt/limit

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

amistre64
  • amistre64
is a rule of thumb, the bigger the bottom number, the lower the value; so you want the card with the smallest balance to get the biggest debt ratio owed
anonymous
  • anonymous
yeah its debt/limit
anonymous
  • anonymous
So would I want to pay off the card with the largest amount first?
amistre64
  • amistre64
"Paying off and closing which card would decrease your debt ratio?" Paying off any of them would decrease your debt ratio. Paying off which one would decrease it the most? the card with the highest debt ratio of course
anonymous
  • anonymous
Ahhhh... I see, if I just pay it off and dont close it ill still have the same debt ratio right?
amistre64
  • amistre64
sounds good to me :)
anonymous
  • anonymous
Thank you!!:)
amistre64
  • amistre64
yep, good luck ;)
anonymous
  • anonymous
it was the smallest

Looking for something else?

Not the answer you are looking for? Search for more explanations.