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Darina [25.2K]
3 years ago
11

At the start of January, you have a credit card with a balance of $498, a credit limit of $900, and an interest rate of 15%. You

make monthly payments of $35. At the end of which month will your balance be below the target debt ratio. (They consider the target debt to be 1/2 the credit line or less).
Jan
Feb
March
April,
Mathematics
1 answer:
Vedmedyk [2.9K]3 years ago
3 0
At the end of the January the balance of credit card need to be $498+$35=$533
$533 is more than one half of the $900. So at the end of the January.
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