Michelle has four credit cards with the balances and interest rates listed below. Rather than budget to pay each of the credit c
ards off in 36 months, Michelle would like to pay them off one at a time based on the balance for each credit card. In which order should Michelle pay off her credit cards?
Credit Card
Balance
APR
#1
$4,380
17%
#2
$1,365
19%
#3
$2,480
23%
#4
$5,000
15%
a.
1,2,3,4
b.
4,1,3,2
c.
4,3,1,2
d.
1,3,2,4