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taurus [48]
3 years ago
8

A general rule of thumb is to keep your credit utilization rate at 30% or lower. What is your approximate credit utilization rat

e for this current billing cycle?
Business
1 answer:
igor_vitrenko [27]3 years ago
5 0

Answer:

30%

Explanation:

Credit utilization can be regarded as the percentage of the total credit that individual is utilizing. It's financially advisable to keep the credit utilization ratio in order to have a good credit score.

To calculate credit utilization rate;

✓ one need to know the information about one credit account.

/✓Then divide the total balance by the total credit limit

✓then multiply by 100

For instance if the total balance is $5000 and total credit limit is $25000 then the credit utilization ratio is ($5000/$25000)×100%

= 20%

Whenever the credit utilization ratio is

higher than 30% it will bring about the decrease of credit score, as a result of this , the lender can be worried because he/she may think the ratio is overextended, and paying back new debt might not be easy.

Therefore, with general rule of thumb is to keep your credit utilization rate at 30% or lower. your approximate credit utilization rate for this current billing cycle is 30%

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The store manager should make sure that the discounted price is still higher than the cost of the bathing suits so that they will still generate profit even at a lower value than initially expected.
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2 years ago
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Answer:

The overview including its situation becomes discussed below.

Explanation:

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Lunna [17]

Answer:

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Star workers and athletes are usually individuals who have a high need to become the best or reach great accomplishments in their field, thus it is accurate to say that both groups will have a high need for achievement.

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