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3 years ago

Card 1 has a current balance of $8,312.69 with an APR of 24.16%, and the credit limit on the card is $10,000.

Mathematics

1 answer:

Scilla [17]3 years ago

6 0

Answer:

The focus should be on paying off Card 1 first

Step-by-step explanation:

The credit limit for card 1 is $10,000,invariably the cardholder only $ 1,687.31

($10,000-$8,312.69) to reach its limit,hence available balance to draw from and also the annual percentage rate is higher for card card 1.

For every balance in card 1, the cardholder pays 24.16% APR annually compared to 21.15% applicable to card,as a result,card is cheaper.

Besides,the cardholder still has an available credit of $ 6,319.66

($7,500-$1,180.34) on card 2 which comes at a lower APR

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