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katrin2010 [14]
3 years ago
15

Using the Avalanche Method and the following debt, how much of the monthly $700 should be paid to Creditor #3?

Mathematics
1 answer:
Zanzabum3 years ago
3 0
Creditor 3 should receive only the minimum payment of $25. In the avalanche method, the debtor pays only the minimum payments, then pays the rest of their money to the creditor with the highest interest rate. Creditor 2 has the highest interest rate.
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