Frank has four different credit cards, the balances and interest information of which are outlined in the table below. As Frank was developing a debt payment plan, Rick suggested that he pay off the credit cards beginning with the highest interest rate, working his way down. If Frank chooses to follow Rick's advice, in what order should Frank plan on paying off his credit cards?

Credit Card

Balance

APR

A

$2,380

19%

B

$4,500

15%

C

$1,580

17.50%

D

$900

21%

a.

D, A, C, B

b.

D, A, B, C

c.

A, D, C, B

d.

A, C, D, B

Question

Mathematics

Eddie Schmitt

2 July, 05:36

Frank has four different credit cards, the balances and interest information of which are outlined in the table below. As Frank was developing a debt payment plan, Rick suggested that he pay off the credit cards beginning with the highest interest rate, working his way down. If Frank chooses to follow Rick's advice, in what order should Frank plan on paying off his credit cards?

Credit Card

Balance

APR

A

$2,380

19%

B

$4,500

15%

C

$1,580

17.50%

D

$900

21%

a.

D, A, C, B

b.

D, A, B, C

c.

A, D, C, B

d.

A, C, D, B

+4

Answers (2)

Know the Answer?

Evan Salazar · Answer 1

a. D, A, C, B

Step-by-step explanation:

You want to put the interest rate numbers into decreasing order.

Those numbers are ...

19 (A), 15 (B), 17.5 (C), 21 (D)

In decreasing order, they are 21, 19, 17.5, 15, so D, A, C, B.

Wilkinson · Answer 2

The answer is A: D, A, C, B